And I've gotta say those caps are in a horrible position, they should be out from underneath the heatsink/fan. Could be a potentially big problem or it could be people pulling off some epic trolls. We'll see!
Can be caused by incorrect voltage on the board, or an error in the capacitor manufacturing process, but these can cause shorts and in theory fires, could explain the smoking video. Worst case a whole batch is screwed and may need a recall. Best case just a couple from a batch were screwed and nothing to worry about. Hopefully it's the latter.
Years ago I worked at a plastic molding factory and some black plastic when heated high enough actually turns white.
I used to see it all the time and never quite understood it myself. The product was a hard dark black plastic shell and occasionally when you exposed it to heat and especially when removed when too hot it would get this kind of bubbly white goo on the end of it. No one was bright enough to tell me why since it was factory work and I honestly didn't care at the time.
Would explain the smoke though. Its getting hot enough to start melting the plastic in some cases I bet.
Everyone trying to downplay this because it's only 2 cases so far seem to forget it took a year or more for RROD to really become an epidemic. Not that we should be jumping the gun as to the severity of this but it has to start somewhere.
The fan is not moving fast enough to push liquid upwards..main reason they went with a larger fan was to give better cooling at a lower RPM to reduce noise levels/cooling effectiveness. A fan needs to be running pretty damn fast to cause a liquid to be pushed up and through it.