EPTIf your engine is still running fine, but your AC isn´t working anymore, i´m pretty sure it´s the v-rib belt.
The timing belt has no connection to your AC compressor!!!!
As Niko already mentioned, if your AC compressor isn´t working anymore, or better said the pulley of the AC compressor isn´t turning anymore, the V-rib belt slips over the pulley
There is a non-positive connection between the belt and the pulley, the belt slips over the pulley and gets warm...thats were the smoke comes from.
You can check this easiliy by starting the engine and turning the AC on and off. Normally you should hear a difference between these two states.
I hope this was understandable, as english is not my native language..
Tried it just now as we were gonna drive it to the shop and well, bye engine. I had told my girlfriend(it's her car so to say) that we should have it towed just to be safe but she didn't want to thinking it was unneccessarry and that it would survive to the shop. Well, it didn't. We drove about 2meters and the pull of the car while in free was pretty much 0. Again i wasn't driving so i wasn't aware just quite yet. It drives a bit weird and i ask her if it's ok, she says "No there's like no pull in free and shit" and i tell her to pull over, she still won't do it, not untill i yell "Do not drive another meter - pull the car over now we need a tow!". And when it's pulled over she starts it again! To "check" if it's still fucked. And now i am somehow getting shit for every little tiny thing because she's pissed over the car. And i have to call the insurance company, the shop, fix a tow... goddamnit i don't usually don´t say it but women... AAAHHH!
