We have a chore board for my 4.5 year old and it works great. In our house once she gets all her magnets for the day we put a sticker on the calendar. Once she gets 20 stickers I pick her up from daycare and we go do something special the two of us. She likes to go to the library and play on the computers without her brother. We go to Starbucks and get her favorite pumpkin scone, etc.
Anyways I think the system works really great for me. My suggestion would be to break it down a bit more. I tend to change the magnets out for things that drive me the most crazy and I find that eventually they become a habit so then we move onto something else.
For example I want her to sit nicely at dinner and say the prayer nicely. That is actually two magnets. One for saying prayer nicely and one for sitting facing forward either on her knees or bum. Now the prayer one we are geting into really good habit with so I am going to change it to putting her clothes in the laundry basket when she takes them off. I've noticed if I take a magnet away the habit still continues.
What is going during the times you are frustrated with the lack of listening. I think not listening all day might be too much. Can you break it down a bit more? For example, listening and not throwing a fit before school would be one. Second, after school time, what are your expectations at that time of day?
Or maybe pick the part of the day you are most frustrated with and work on that and once it becomes habit move onto a another time.
I have even combined them. We really struggled with her to go potty in the morning and before bed. So that was two magnets along with two magnets for getting dressed in the am and getting dressed in the pm. That become a non issue so now they are combined and getting dressed and going potty go hand in hand.