I've been fermenting smoked peppers for 3 seasons now and have had excellent, "normal" results - none of the potential issues described above actually.
Right now I have 2 gallons of mash bubbling away in my basement, a mix of half a dozen different red and chocolate off-types that I smoked at 250 degrees over oak and mesquite for 2-3 hours, then put into ziplock freezer bags like you'd do when peeling roasted anchos, to cool and get all mushy in the fridge for a few days. Then I put them into a blender, adding just enough water for the blender to work correctly, then added salt in proportion to the overall liquid volume, not just the added water, to get a ~3.5% solution. A teaspoon of liquid from an old yogurt, and a week later its rolling right along like any other ferment.
Maybe you can get the same taste by adding a smoked powder to a regular ferment, but that would seem like cheating to me, and unnecessarily complicated.
Give it a try - it's worked great for me.