Reinstalled the MGL iEFIS panel, connected LAN and power cables. The setup had been used for several hours earlier in the week to update firmware on iEFIS and iBox. A thick brown, acrid smoke came from the iBox, with the iEFIS showing sensor alarms. Shut the system down immediatly. On inspection, one of the large diodes on the iBox board was greatly damaged, damaging the circuit board traces and nearby IC. Unclear as to what and why the failure occured.