nobody seen this? Mine does it, my friend has his done on warranty and then this guy on youtube - all 2.2.
There is a problem with the peugeot block and the connection with the ford turbo. ford won't admit the problem i.e. design fault but i don't want to pay myself for the repair...
IO can only suggest it may be worth checking that the EGR is bolted completely in place, as that tends to be at the back of the engine block.
On the video, it looks more like steam than smoke, so It would appear to be a split or insecured hose on the cooling system, or possibly a leak somewhere causing water to drip to the EGR system and condense.
Do you hear more of a whoosing noise, like its trapped steam escaping, or do you hear more of a splat - hiss - noise, like dropping an egg into a hot frying pan?
Well the most obvious question has to be - which engine do you have?
As the Smax is fitted with engines from Ford, PSA & Volvo - depending on which will give you the answer as to whether it's a common issue or not!