Increased smoke on deceleration is a classic symptom of blown oil control rings. I'm not very knowledgeable in regards to turbos though, so there may be something related to that whole system.
If it is the oil control rings, you can get very good results with Lucas Heavy Duty Oil Stabilizer. My old 12a was leaving a smoke screen, which was 95% alleviated by running a quart of the Lucas in the oil. Put about 30k miles on that motor until it coughed up an apex seal at 213,000 miles.
I still use Lucas in my current motor just as a preventive measure...
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"Learn from the past, or it will become your future...."
'85 GS 12a + LSD/Sterling carb/Respeed coilovers/Respeed front swaybar/Respeed adj. rear spring perches/Illuminas/Bilsteins on rear
AutoX vids @ http://www.youtube.com/user/Kentetsu1
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