Wow! I thought this problem is all tied up...Thank you guys! I think I'll stick to "non-magnifying" for 1x optics and "times" for magnifying sights. Now that you said it won't create misunderstanding then it feels much better.
Yes, the x in magnification (of all types) is read as power.
Check definition #20 here: power - Definitions from Dictionary.com
I have used magnifying optics (including rifle scopes) for over fifty years. I have always heard, and used, the word power (written x) to describe the level of magnification.
Very reassuring,sir. Thank you.