If there is smoke coming from your exhaust due to a bad throwout bearing, you've done something wrong. Do a leakdown test first, then a test on your radiator fluid to see if you've got oil in your coolant. Then go back over what work ws done to your car and who it was done by and think about what could be wrong gasket wise (ie what did these fools change and forget to tighten to spec and retighten after a heat cycle). Trust me, you could have a transmission catch on fire and have no smoke coming out of your tailpipes...it just isn't possible.
You might want to read up on
www.howthingswork.com as well. It gives alot of alleged "pros" a lesson or two on basic vehicle dynamics.
BTW, I have killed many a throwout bearing in such transmissions as t-5's. t-45's, 3550's and TKO's (not a t56 yet....my mom doesn't give me access to her car for me to kill it yet) and not once have they smoked. You might want to follow my advice and do an anal retentive check of the motor before you go accusing a transmission of your woes. It's probably the head gasket...I wish you luck.
[/I have owned too many hi-po mustangs]