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As fair I am aware, Bifrost isn't fully implemented in 3ds Max, so the only thing you can simulate are liquids. For smoke, you may want to check PhoenixFD and then export the simulation as a VDB and rendering it in Arnold. That is what I do.
As Ciro have said, Bifrost Smoke is not available at the moment. With FumeFX you can simulate smoke and fire dierctly with Arnold - no need for .vdb export and it also supports Arnold AOVs.
http://docs.afterworks.com/FumeFX5max/Arnold Redshift Volume.htm
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