Wow, a car audio discussion in the t-dome, and its... staying on topic? WTF guys.
Some bad info in this thread. For example, much of the info on deviating below enclosure tuning. As we all know, an enclosure creates an 'air cushion' to help dampen cone motion. As the signal dips below enclosure tuning, this air cushion goes away relatively quickly. This is what is known as the sub 'unloading'. So, as that air cushion lessens, what happens? Cone excursion increases. When cone excursion increases, cooling improves, not the other way around. So knowing that, and knowing that impedance rise increases as the coil moves further and further out of the gap, it stands to reason that thermal power handling does not decrease as the sub unloads, it actually goes up a little. The problem with deviating below tuning to the point the sub unloads to a dangerous point is mechanical, not thermal. In other words, its more likely the motor will bottom out, a spider will tear, a t-joint will fail, etc.
Next, tuning versus output. Higher tuning does tend to increase output, but only at the peak output point. This is because most vehicles have a resonant freq somewhere in the upperbass/midbass region (say 60hz+). So higher tuning means you are aligning the peak output freq of the enclosure with the peak output freq the environment creates (resonating freq). Lower tuning tends to have a greater output potential across a wider bandwidth, which improves SQ for listening to music, but lowers the peak output which, again, is usually in the upper bass region.
The smell may be your coils overheating, or it may simply be excess glue melting away as you push your subs harder than normal. If that is the case is very specific to the exact scenario, and to say one way or another over the internet is simply a guess.