If smoke come out of the processor then it is dead.
If the smoke came another component then it is dead.
Fuzes don't smoke when they blow so most likely something on your Axon board is now bad.
Now for some troubleshooting:
Is there the correct voltage on the Regulator output?
Do any parts looked burned, have a small hole in them or do you see any brown or black deposits? Use a magnifying lens.
Do any parts get hot when power is applied?