Nope your wrong...Greater Dragon is only Tameable thats magery can go past 100 and as far as I know 130 is the cap all though Ive never seen one that high (seen one on siege with 128)
I have had 3 on LS....
Leviathan's magery was 120. sumin when I 1st got her. She has died alot when young and for a while was below 120 but recently got it up above 120 again and as of right now is 121.8
Melissa Muncher (aka Geico Gecko) is one I'm training for my bro and is a monster. Alot of Str and Resist wise it is one of the best I've seen on LS, although, I have seen some other people with frikin amazing Dragons . Has better all around resists less mana than leviathan but is not as magical as Leviathan in terms of Magery.
Melissa's was 106 when I got her and now is 108. sumin and climbing...
Trick is their Resist spells and magery tend to get stuck kinda and at different intervals for different births...
Sumtimes it seems its either not going up because of a bunch of reasons:
1. other skills need to go up passed a certain point 1st
2. your drag is killing stuff too fast with physical attacks
3. your not making it fight stuff that can take massive amounts of damage
4. your dragon is dying too much
5. try making it fight stuff where you are at a place where ONLY THING YER DRAGON CAN DO TO HURT ENEMY IS CAST MAGIC
6. yer dragon sux
personally jus I say do numbers 2,3,4,and 5 all combined and you should be fine
But no hes right bout 2nd part...they dont learn new spells...they cast all magery direct damage spells, do dragon super fire breath, bless them selves, cast arch cure, cast paralyze, and do bleed attack, and they seem to do their teleportation instant transmission along with flying and getting stuck on top of buildings LOL
thank goodness for pet balls in non log out situations LOL