I think that if you play a transformed two-asterisk Magic chit as a Move chit, you need to fatigue a one-asterisk Move chit in the Fatigue Step as usual. You can fatigue another Move chit or one of your one-asterisk transformed Magic chits. If you don’t have any other one-asterisk Move chits to fatigue, you have to fatigue the two-asterisk chit that you played. You can make change if you have a fatigued one-asterisk Move chit to bring back; otherwise you lose both asterisks.
I would say that you can consider your transformed Magic chits as either Fight or Move chits at your discretion, so you could bring back a fatigued one-asterisk transformed Magic chit (regardless of what you played it as) to make change for either a two-asterisk Move or Fight chit.