The properties of low frequency dynamics of electrostatic fluctuations in strongly magnetized plasmas have been studied, with particular attention to localization of the fluctuation amplitudes. A model based on a few isolated vortical structures is analyzed, with particular attention to vortex collapse, where three vortices merge together within a finite time, or to the converse process, i.e. a vortex explosion. Details of these particular types of vortex dynamics depend on the actual model used for describing the electrons, the presence of a Debye shielding in particular. For shielded vortices a ``boomerang''-type of interaction is found.