99 rebuilt ISM misfire, black smoke, popping video inside

Cam is in the block. Was it even out?

 

Yes it is possible for the mechanical part of an injector to be bad and the electrical parts to be good in my opinion. However I never saw one cause pooping. Anyone else?
Some truckers have seen these things called cardboard slip sheets. We would cut them down to size and slip them right down in front of the radiator. You should be able to heat her up this way.
If your adjustments are good I would lean toward a valve seat problem and will tell you why.
Once upon a time I did some work on a 2505 Terrigator in a dirt floor barn. We were under high pressure but at about midnight I told the company man, who was helping, I have to go. Will be back at daylight. I was about an hour ahead and he scared the crap out of me when I turned around and he was already there. When we fired that 8V92 up, no pipe on the turbo outlet, It was pooping, blowing smoke and we could see it stalling the turbo, hear the odd noise that went with that.
Double checked all the adjustments as you have done. All OK and the longer it ran the better it got. We put it all together and in the field. It ran well for about 2 or 3 months. Then we had about a 5 cylinder Detroit misfiring and blowing white smoke. Bad valves - valve seats.
The trusted man that ran that machine shop for years was not there anymore. They were doing automotive and buying industrial stuff from other places. That's the way life goes.
Know none probably wants to here the BS but that is why I suspect valve seat problems.

 

I’ve know this since day one. Always go OEM.