Intercooler
I had similar problem for a while, and struggled with identifying the colour of smoke. I inspected the intercooler and noticed it was gumming up with oil deposites. In the end I bought a replacement intercooler with fixed down pipe (no o-rings) and it solved the smoking problem. Seems it was holed. Improved mpg too. However wasn't cheap (£120 I think) and took a bit of effort to fit!
And of course your intercooler might not be the issue...
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