We perform a numeric study (Worm algorithm Monte Carlo simulations) of ultracold two-component bosons in two- and three-dimensional optical lattices. At strong enough interactions and low enough temperatures the system features magnetic ordering. We compute critical temperatures and entropies for the disappearance of the Ising antiferromagnetic and the xy-ferromagnetic order and find that the largest possible entropies per particle are ~0.5kB. We also estimate (optimistically) the experimental hold times required to reach equilibrium magnetic states to be on a scale of seconds. Low critical entropies and long hold times render the experimental observations of magnetic phases challenging and call for increased control over heating sources.