It has to be very high end cfd flow vis, real smoke would never last like this.
There is a lot of interesting "stuff" happening in the Ferrari 396 video. Interestingly you can get smoke to streamline - but it gets all "messed up downstream - your guess may be correct - CFD adapted to a very high end graphic.
Anyway here are my observations:
The Yellow Streamline movement shows there is a lot of interesting things happening either under the bonnet (hood) or on top. At first glance looks like some louver action - but those are surface "stripes." [See the Orange Ellipse] I''d bet they are used for exactly what we see in the yellow stripe. Either surface heating differential or other clever means - or what the heck - just 'pretty stripes?' I remain suspicious. The Blue Highlighted Smoke flowing over the "Yellow Submarine" shows also very interesting entrained of the flow. Something could be happening with the engine cooling under the nose. Fan directing, radiator ducting. Note the slats located inside the exit. Clever. Are they Active Aero? Are there steering vanes underneath? Super-Buick-Guy - we've talked about this some I recall.
The shape and flow along the side in the areas highlighted in turquoise would be really nice to see. I'm naturally interested as you'll see in my sig, where I've been headed - and I think they copied me! (LOL).
All reasonable and clearly a good advantage - look at the flow over the roof and to the rear wing.
As a side note - I'd like to see what is going on with the front fender exit, the mirror stalk, the "ramp" and the rear fender entrance. There has been some efforts to use mirror stalks as a flow directing device.
For the front fender exits - the video gives a better look at the shaping of the side panel and the fender. Some clever ducting there to focus what we see down the side of the vehicle. The "Tailored Notch" looks a bit diffuser-like, wouldn't you say? I'll bet there is some significant area-rule work they've done just in that section.
The front view shows the wide overhang for the mirrors. Not only the stalk could be used to influence the flow, but the size and shape of the mirror. I have previously posted some work that had been done on mirrors to reduce their drag. This location is clearly intentional, and I bet plays a part in the overall flow.
At the rear - Deck. A subjkect of interest to all Notch -Back C-3s. The rear louvers are quite large in comparison to the early C-3s.
Take a lesson Super-Buick-Guy! Here is a modern competition- level/street-wise car that has worked the issues associated with flying buttress, rear deck flow and wing.
What I'd like to see; the same smoke streamlines at 20 degrees off center. Now we see some real secrets!
That's all I've got for now. Man you gotta let me catch up!
Cheers - Jim