Here in the states we have the Jay Leno show as late night Tv. One of the things he does every now and then is bring in a young magician (don't recall his name) who will work behind the counter of various stores and as he talks with customers, changes clothes and all sorts of things . . . even to the extent of going from his very Irish complexion to one of a more "African" tan level . . . and yet people don't notice. It's an amazing thing that benefits us and what we do for fun or a living but likewise benefits the ardent criminal -- one of the reasons why an eye witness account isn't always accurate.
But I don't recognize such boldness as being an aspect of "Magician's Guilt" but more so, bold and at times, psychological skill. "Magician's Guilt" is just that; someone that feels guilty because of the deception that's afoot. The late Gerry Andrus was known for never lying; when he did a DL he'd say something like, "What we have here appears to be your card" this is because he felt "dirty" claiming that the DL was really a single card. Many a mage is struck with guilt when it comes to Cold Reading as well as Muscle Reading and the psychological explanation is typically the same -- they are afraid of the method and how it affects them; how it can give them reputation for being more than a mere trickster, which few magicians seem to have the brass to carry; it's certainly one of the contributing reasons why Mentalism trends are short lived compared to the more traditional modes of magical performance -- manipulation & illusion acts (real illusions like the Sawing, not parlor tricks which have been mislabeled in recent years).
I think maybe the "guilt" side of things comes about as the result of one's own sense of just how far they are willing to push the boundaries of "right & wrong" -- what is morally & ethically acceptable to them when it comes to the art of deception. Mohamed Ali loved visiting Hollywood Magic for years and would do tricks for the store patrons all day long if possible. But, his Islamic faith and related morality wouldn't allow him to extend the deception; he would always explain how each effect worked after performing it. . . between you and me, who's going to tell the Heavy Weight Boxing Champ of the World he can't do that?
It was an accepted fact by the shop owner & management because of the media attention it gave the shop and more. They however, had that magician's remorse where Ali was able to let go of such because of how he followed things up. . . he freed his conscience. This is where the "Guilt" factor comes into play; for some of us doing a bar betchya never results in drinks because we think about being "fair" and "honest" vs. being the con-artists magicians really are . . . let's face it, we come from a very long line of rapscallions, do we not? Even now, we strive to learn how to manipulate people by way of this or that communication technique, suggestion and pseudo sciences like NLP. We want to reach into a person's mind and life in a more literal sense . . . but only some of us. Most of us draw a line that we will not cross because of the guilt it sets upon us. . . this is my understanding of the idea of Magician's Guilt