Has someone experienced anything similar?

I was sitting at a stop sign in my 99 Explorer Limited, and pressed the Off
button on the cruise control by mistakes (shouldn't have done anything
anyhow).  A few seconds later, I saw a little bit of smoke coming out of the
hole where the 'hazards' button is.  Got my 2 year old out of the Explorer
in a hurry...

That was it.  I parked it for several hours, and eventually drove it home
(without passengers!).  I tried the cruise control on the way home, and it
worked as expected.  So I don't know if it's just a fluke or if it triggered
it.  Everything seems to work, although I was limiting the number of
instruments I was using.

I unplugged the battery and will let it sit overnight, to ensure that the
batteries in the air bag assembles are drained prior to having a look in the
steering column.

So I haven't opened it yet, but I was wondering if it has happened to
someone before?

Thanks,

Al