When have you last cleaned your engine bay with some good pressure washer and oil stain remover stuff. There might just have been some dirt and oil which start to "burn" when no cold air is coming to the engine bay. Engine undertray usually soaks in oil and other "flammable" material and you should clean. There is usually some material which soaks in any oil that falls from engine.
On my lupo I have removed my intercooler totally, so you dont need it necessary on speeds under 120 km/h. There has been non intercooled diesel cars long time and they dont "have" problems with intake temps. On my Lupo intake temps are under 50 celsius in normal driving. With intercooler they are 20-30 celsius lower. So intake temps are higher but that is not the cause for smoke from engine bay!
You might also have oil inside your intercooler. So you should check and clean that also.
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