there are two grommets on the bell housing, is that what you mean? If it starts smoking immediately from a cold start, that could be an engine thing.
Edit: I'm going to throw out a wild guess, let me know where i screwed up.
If it starts smoking right from a cold start, the tranny (and engine) aren't warm enough to heat up the oil yet. combustion.
If its coming from the bell housing, the rear main must be leaking. should be oil, not smoke.
If the rear main is smoking, the crank case must be pressurized. no good.
If combustion smoke is coming through, the piston rings must be blown. really not good.
Wild guess, also if the rear main is smoking, I thought it was in an oil bath, how low is your oil level?!