I had a look this morning, but no smoke.
Then again it wasn't that cold this morning.
Then only time I've seen my bike smoke white/greyish is when I've flooded the engine just before getting it started, then it smokes for about 15/20 secs.
I know very little about exhausts, but do you think it may have something to do with the type of exhaust you have on the bike?
Mine has got an Arrow Exhaust on which maybe warms up quicker/is made of a slightly different alloy which may reduce condensation?