No, it is really present - appears to be a rather complicated image editor oriented to controls from the terminal. It's hidden (no .desktop file) in R5, LXDE installs over Mint 12 Gnome and Mint 13 Mate, and in Lubuntu 11. To be sure, I will have to check Lubuntu. Anyway, I removed it, so far without consequences. I was concerned it might have something to do with how browsers display thumbnails. I first discovered it in the aftermarket installs because these installs usually collect every computer app, control and turd in the "Others" category of the LXDE menu.
OK, I've got the Imagemagick story. It is located in /usr/share and is a command line photo editor especially useful for batch conversions. As such I think it is a tool primarily for professional photographers, but probabily should not be removed as Synaptic lists over 160 dependants. Information on using it is at http://www.imagemagick.org/Usage/basics/ . It probably got on my installs as a dependency for something else that I have installed, which explains why some of you do not have it.