It sounds resonable to me the exhauts expelling together with hot water, some vapor too, particularly at lower ambient temperatures. Also when probably reaching 3.000 rpm or + you will get a lot more white smoke. The latter is more related to excess of force required to the engine. In a water cooled
exhaust, is quite difficult to distinguish white smoke normal from white smoke abnormal.
In my view, if the amount of white smoke is huge at cruising speeds, and you dont get overheating, do not loose water refrigerant, the engine doesn t stop, nor rattles, it may indicate that:
1. the
propeller is requiring too much force to the engine. This may be a question of the size and pitch of prop, or
2. The engine could no longer cope with the force required by the prop because i.e. lack of compression.
Regards