White smoke can indeed be timing (not the only thing). The white is atomized unburned Fuel and why it smells like Diesel Fuel. When the timing on My Volvo Diesel was extremely late it billowed out clouds of white smoke.

You might as well just clean the Paint off so you can see the Numbers. In the long run you will be better off.

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84 300D, 82 Volvo 244Gl Diesel