Being that it's an XL2, the smoke is most likely bar oil getting sucked into the crankcase via the dodgy oil system. These saws oil via a crankcase pressure pulse and check valves. They slightly pressurize the crankcase which on most models will push oil to a plunger pump mounted to either the crankcase or the carb on later models. Frequently the sintered metal filter on the end of the pressure line will fall off taking the little duckbill check valve with it. If the oil tank is full or the saw is tilted sufficiently, they will suck oil back into the crankcase via this open line and fog the whole area. And yes, you can run the same mix you run in your husky, but I'd recommend 40:1 in both. .
I agree with MasterMech. If that saw is smoking at 40-1 mix than there is something else that is causing the smoke not the mix.
The sintered piece is most likely rolling around in the bottom of the oil tank with a wad of goo on the end of it. The goo is what used to be the little duckbill check valve. Don't lose the the sintered piece as they are no longer made and tough to find. I need a couple myself. All of the XL series of saw are affected by this very same issue as they age. XL, XL2, Super 2, Super 2 VI are all included in this series. Great running little saws but you need a degree in fluid dynamics to re-plumb the oil system.
Isn't Stihl oil synthetic already? I know the Husky stuff is at least partially synthetic. Also, with the oil in a 100ml bottle, it's easy to calculate the ratio. Just put the bottle in 4 litres for 40:1, or 5 litres for 50:1.
Does the gas cans in the US not have litres marked on them as well? We have litres, imperial gallons as well as US gallons marked on ours. And no French here bud.