Glad you already checked that stepped spacer arrangement on the cambelt cover.

I have never had that problem although rebuilt a few in the past mostly on Ivecos, which being rear wheel drive once the front grill and rad are out the way are a lot easier to see what you are doing.
I suspect the problem is the stud comes loose that supports the tensioner when they are working on it so with spacer wrong it takes the load/tightness of the cam belt tensioner. When stripped I always tightened the stud using a suitable tool.
Generally I would say any loss of boost causing black smoke would be after the turbo.
However if yours has a MAF type sensor similair to the later ECU controlled systems then if faulty could affect fueling/black smoke when starting particularly if it is connected to the cold start device, although I wasn't aware of that sort of thing on your age of vehicle.
Perhaps
@Communicator has more knowledge on that?
I am puzzled as to how the suggested MAF sensor could be utilsed on an engine having mechanically controlled injection. That being said I recall reading the some 8140.43 engines were fitted with EGR, which required a MAF sensor, and basic computer for control.
May comment more on earlier posts in this thread.
1. I have never been convinced that I have found the flywheel locking hole on my 2.8jtd, and as I have made a locking device using the starter studs, I have wound back my investigations, but dropping something like an 8mm drill into the correct place would be quicker to use.
2. Yes putting the cover back on is a fiddle, but for my 2.8jtd I have made an engine support beam, which allows removal of the RHS engine mounting, and pushing the vehicle slightly out of its garage for better access at the front.
3. Even though I was aware of the stepped washer problem, I still managed to get it wedged at an angle, on first of my belt changes, and I only discovered that at the second of my changes.
4. If the fuel filter is of the metal canister type, then it will have fuel heater, and temperature sensor at the top, with water sensor at the bottom.
5. The Bosch VE injection pump should have a boost sensing pipe connecting to the inlet manifold, or turbo outlet.
6. Over fuelling and excessive smoke should be the primary concern, but the flickering flame starter light should not be ignored. Logic suggests that the flame starter should be triggered by engine temperature. Having had my 2.8jtd since new, I cannot recall the flame starter operating. This is partly because, as I do not want to fill the garage with fumes, I avoid starting in sub zero conditions whenever possible.