Fear not Diablo, had the very same thing happen to me in my 200tdi 90... Boy that white smoke out the back was something impressive... Oil may, as in my case, have merely just been gushing in to the exhaust down pipe from the exhaust side of the turbo. Massive white smoke as the oil combusts in the hot confines of the exhaust pipe.
Your engine may be abslutely fine. All I had to do was replace the turbo, oil and filter and everything was as good as gold, in fact better. Figure the old urbo must have been suspect for a while.
How did it look when you got home?