I had the same issue which was fixed by changing Detonator > Resources > Detonator > Textures > Smoke from `Normal Map` to `Texture`.
![JeffAU's image][1]
Credit goes entirely to **JeffAU** from [this forum thread](http://forum.unity3d.com/threads/158580-Detonator-Issue-in-4-0).
[1]: http://forum.unity3d.com/attachment.php?attachmentid=40692&d=1352943058
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