BossHog: 0.454" bullets will work great in .45Colt and very well to superb in .45Auto.
I have read gun "experts" discussing whether to use .223 or .224" bullets in their .22 rifles and never take the time to actually slug their barrels and find out. They assume that their barrels are always made to perfect dimensions. They might find out that 0.225" would be better. It is so funny.
Slug your barrel, if you are worried. You may find your 0.452" barrel really isn't.
You also need to measure the throats in your cylinder. The bullets should be a snug fit in the cylinder throats and at least 0.001" over groove diameter (that may or may not be 0.452"). Jacketed bullets can be groove diameter or even smaller and perform well.
As far as smoke goes, you should shoot black powder as intended in the .45Colt. Then, you'll see how little smoke you are putting up with.
You can try some Moly-Koted bullets from Precision Bullets or Black Bullets International. Precision bullets work great in my .45s.
Lube you own with Carnauba Red or B.A.C.
Buy cast bullets in bulk as-cast and unlubed and pan lube with a high wax content lube, such as C.R.
You can tumble lube with 45% Johnson Paste Wax and 45% Liquid Alox and 10% Mineral Spirits or Naphtha--use only enough to "wet" the bullets but not enough to discolor the bullets. You can even try leaving out the Alox and just using a wax emulsion.
You can use a flake powder that burns at a lower temperature than ball.
Then, there are Montana Gold, Precision Delta, and Zero (Roze Distribution) for excellent jacketed bullets.
Never liked plated bullets...accuracy was never as good as with less expensive cast bullets.