Yes, but methane is not a big problem, if the fume’s ventilation is “on”.
The problem is the unreacted magnesium, which is in micro/nanosuspension form and activated by the remaining traces of the preliminary added, iodine crystal that will form magnesium hydride with the “active” hydrogen; which by its turn, will react with another “active” hydrogen and will finally lead to the formation of gaseous hydrogen.
Of course, this problem can be avoided by purchasing pre-prepared methylmagnesium bromide from suppliers.