No. At least not in my truck. I used it at a cleaning dose concentration when I first got the Pajero, and have run 2 more bottles through since, 1/3 bottle per tank on TM's recommendation. I can't tell a difference between the tanks with the additive and the tanks without. Smoke, power, smoothness, mileage all seem the same. It did give me a little piece of mind when I was in the USA running their ULSD (ultra low sulphur diesel.) At $8.99 a bottle, I'm not sure it saves 10L of fuel. It definitely doesn't hurt to try though.

My truck also only smokes at startup, then the odd puff on acceleration.