Yeah, I'd say if it didn't do it before the injectors, then there is nothing wrong with it, its just the extra fuel not getting a chance to burn b/c of cold internal temps.
That eye burning, nasal passage clearing smoke is good stuff.
Adjusting the idle will definitely cut down on the smoke if it's too low, if the idle is right and you make it higher, there will just be more white smoke coming out but for a shorter period of time.
Bumping the timing up will help also, and you'll get that nice fuel knock sound.
-R. J.