No. You can clearly see a dash in the title on magazine covers, so its proper name is "Техника - Молодежи", so it's a dative case.

It's in Russian, there is no vocative case, which could probably formed such a word as молодеже. And even if there had been a vocative case it could not mean either translation you've proposed. With vocative it would have been something like "It's technology, youth".