i was practicing my wheelies down this lane and when i stoped and got off i could see some smoke coming out of the fins in the tranny case below the clutch, is this a bad thing? what is burning? the belt
At a guess, could be the belt as you say. Is it running fine since? Take the tranny case of, confirm your thoughts
give the bike a bit of a rest after a few wheelies in future, you can feel when a clutch is overheating usually.