I would check all piping connections carefully. Easy to have one that is not on all the way. If your turbos are oiling up you might see smoke like that. That could be one of many things. Make sure you are not pressurizing your crankcase, make sure your oil feeds are very small id, oil returns should be 10AN or bigger with no up hill sections. Your turbos need to be positioned so the drain is within 30 degrees of straight down. If it is easy to check, look in the exhaust part of the turbo to see if there is oil. The final thing is that the turbo itself is just leaking oil. Post more info on your setup too. I had similar problems on original startup (with smoke).
97 Laser Red GT-248A Wingless model, Built Lincoln Mark VIII motor-Procharger D1SC, 3 core IC
2012 Black GT-Saddle, 3.73s, Brembos, Shaker1000