High RPM Deceleration Smoke

Just curious if this is normal. I'm about 1800 miles past a full rebuild. Got a Kerker 4-1 and Pod filters with a Dynojet stage 2 kit (I think - previous owner installed the Dynojet kit). Took the baffle out of the exhaust so it is pretty unrestricted. I'm thinking it's ok - just lean mixture combusting in the exhaust. I get the pop-pop-pop when I cut the throttle at high rpm. Any thoughts? Thanks!

IMO it's normal if the clean air system is installed and working. Not normal if there is an exhaust leak at head-pipes connection. small pop pop pop OK, big pop pop BANG! not OK.

Smoke? Deeleration? Oil smoke?

You shouldn't be getting any smoke from a lean mixture. Black smoke indicates a rich mixture. Blue/gray smoke indicates oil is being burned. If you only see blue/gray smoke when decelerating from a high rpm, your engine is pulling oil into the combustion chamber from somewhere, probably either bad rings or valve guide seals. The high vacuum in the cylinder will pull the oil in under these conditions. Can you give us some more info?

Don't have much more info to offer right now. Will have to get out on another ride and perhaps switch bikes so I can observe it myself. Will post more soon. My buddy said he thinks it was black. Fingers crossed that it is not grey/blue/white. :S He rides a new Ducati, so any smoke is alarming to him. He's not used to riding around with 25+ year-old bikes.

I'm thinking lean because the air fuel mixture is burning in the exhaust at a much lower pressure than in the combustion chamber which would result in incomplete combustion and black smoke. Maybe I'm just thinking about it too much?