That regulation is in regards to a "storage magazine". If you're powder is sitting on a shelf, it's not in a "storage magazine".
Here is the pertinent regulation:
10-3.7 Smokeless propellants intended for personal use in quantities not exceeding 20 lb (9.1 kg) may be stored in original containers in residences. Quantities exceeding 20 lb (9.1 kg), but not exceeding 50 lb (22.7 kg), may be stored in residences if kept in a wooden box or cabinet having walls or at least 1-inc. (25.4-mm) nominal thickness.
Still happily answering to the call-sign Peetza.
The problem, as you so eloquently put it, is choice.
He is no fool who gives what he can not keep to gain what he can not lose.
-Jim Eliott, paraphrasing Philip Henry.