Smoke rolled out and then the unit shut itself down
By and large, electronic devices need the smoke to stay in for them to work. Once the smoke comes out, they generally don't work anymore.
Joking aside, the only parts that can generate enough heat to produce smoke will be the power supply transformer and capacitors. If you're lucky, the damage will be limited to the power supply, but there's a good chance that it went unregulated while it was failing and so dumped 120V into the main circuit board and cooked other components there.
If you are up for soldering, then open the unit up and post details of what components have visible damage, as well as detailed info about the circuit board revisions.
If you're not, then it's probably time to shop for a new receiver.
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