Floating F,
I had almost the same thing happen, they told me to strip to my waist and run around the building 3 times and blow again. The results were the same as the first time, doc suggested I should be a chronic asthmatic lying on the floor after the run but clearly I was not. They re-calibrated the machine and made me do it a third time and I got the same results again. Passed everything else and was advised that they would contact me regarding the spirometric test. Two weeks later received 1st class medical in the mail.
Here is the interesting bit, the week before my medical I was spraying a car in the garage with a not too good respirator so have often wondered if this had any bearing on the results. I too was a smoker but have since had my right lung removed due to lung cancer, after considerable rehabilitation, effort and a demonstrated ability test, I have my FAA 1st class medical back and am flying again. Guess I was lucky but often wonder if the CAA test was a warning of things to come!. Good luck