The only components on that board are the LEDs (which do get hot when running) and micro-resistors. Resistors "pop" with a puff of smoke and since an LED is a light emitting diode (and I have see diodes blow), they also "pop" and emit a bit of smoke. Neither component will start a fire.
However a computer Power Supply most definitely will. My 450 Watt power supply failed one night. I knew because I leave the PC running 24/7 and just shut off the monitor. I came in in the morning and my PC was DOA.
When I pulled the Case away from the wall to troubleshoot, there was a huge black mark on the plaster where a lick of flame and smoke had come out of the fan vent. There was very little beyond that initial burst of bad stuff. The smokes did not go off (I have a centrally monitored system) in the hall. I was lucky there were no papers or other trash around or behind the unit at the time (like normally
). Since the supply was "toast" I opened it up and a big ripple capacitor had burst.
Lou and Laura with Bella - German Short Hair Pointer
2008 GMC Sierra 2500HD Crewcab SB Allison Duramax
2010 Flagstaff 8526RLWS - Superglide 3300
HAM CALLSIGN - KC3FFW