Can anyone tell me why smoke would appear from the steering column. It sounds as though a fuse has blown or something has shortened out. Everything still appears to be working as far as I can tell.

The most commin issue is a turn signal switch. The plastic heats up, the contacts pull slightly apart and the amperage goes up, and smoke. Surgery is needed to locate the issue, and this takes special tools and pullers, on your car. Turn signal replacement is kind of tricky, maybe best left to a shop.