No. If it's at the full line, leave it. If it's over-filled, it would also cause what you described. You don't ever want to over-fill your oil because you will bust muy-importante oil seals. and begin leaking it. Also, the higer oil pressure can force oil into the combustion chamber where it will burn, and cause blue smoke like you described. It will also make the car feel like it has no power, and very quickly, you'll foul your plugs.