TA Pratt's Marla Mason series can fit the bill. Its kind of a mix of Harry Dresden and the Nightside, or its Harry Dresden meets the Sopranos.

I will never utter "Cower now brief mortals...", while attempting a vocal impersonation of Christopher Lee, wearing a long black cloak, and carrying a scythe, at Mac's.
a) Even if it was on Halloween.

Geyser?

Thinking of using either the term "Flux Wave" or "Shudder Storm".

Cascade Paradox
Paradigm Flux
Quantum Tempest
Metaphysical  Hiccup
(or various combinations of the above)

Let me ask you this, whats sort of usage are you going to give this thing.  If we're taking something that will be used during the nice explanation chapter or whatever, something more scientific and/or long but accurately descriptive might be what you need.  If its something the heroes are are going to be shouting at each other as shit meets fan, it might be more important for it to sound good and role of the tongue.  You may even what to have two terms to work with, one for the reality phenomenon (say Paradigm Flux) and then another for the collateral damage side of the effect (say FluxQuake).

And what is the effect of this spewing of magical stuff.  is it purely an energy discharge? do elves and vampires show up on the street?  Is it sort of a reality revision, where what was is now something else (mounted cops horse turns into a unicorn or some such)?  Just trying to get the  feel of the thing

Its a backround even in this world. The idea starts out with a break between two of these events where people are out looking for those who have come through the the weak area. All of the regions where these "quakes" happen aren't active at the same time, but on very rare occasions, they are all active at once. The last time, was thirty some odd years ago. Magic and science exist side by side in this world, and example are anti-grav platforms that float over some major cities, one of the secondary characters is a dragon. All manner of creatures are found in the world; sometimes in large populations, some times small populations.

There are spots in the world where the walls of reality are thin, and on occasion, stuff comes through these, for lack of a better term, holes. When this happens, it affects the weather, causes small earthquakes, screws up power and broadcasts, and even probablities. The name I'm using for this occurance is "Stormquake" which sounds stupid.

Rob Thurman did a good job with werewolves and Elves/Fae, in his Nightlife, Moonshine, and forthcoming Madhouse books.   Elves are viscious cruel rage filled psychopaths.  Werewolves are thuggish stupid gangsters.   other races also exist.  I highly recommend this series by the way

Rob Thurman is a woman. Check out her website.