A study is reported of the Mn²⁺ intracenter 3d luminescence in a dilute Cd_0.5Mn_0.5Te magnetic semiconductor at pulsed excitations of up to 3.5 MW/cm². At high excitation levels and at a temperature of 77 K, the kinetics varies strongly over the emission band profile. The luminescence decay curve can be resolved into a fast and a delayed component, which correspond to the excitation of extended and localized states in the manganese ion system. The fast relaxation of the extended states is largely determined by the up-conversion. As the temperature is lowered, the contribution of the fast component at the center of the emission band and in its low-energy wing decreases because of the weakening role of the extended states lying above the mobility edge.