Yes, this. It's the old, sticky oil that is likely making the smoke. I would suggest something acidic to clean with, but do check with the manufacturer to make sure it's not going to take off the non-stick coating.

For pancakes, always start with a clean pan, and use fresh oil - ideally rapeseed (= canola in American?), or something else with a high smoke-point (i.e. definitely not butter, margarine or olive oil). And soak and scrub pan as soon as it's cool enough to handle after use.