I have a similar thing with my 1.6 ts, but its passed its emissions (as far as the smoke on first start up and hard acceleration at high revs). Could it be a nackered cat? Lambda would put the emissions way out, but wouldnt you have a engine management light? As for the ticking sound, do you "use" the car? If its not given a thrashing every once in a while the variator doesnt get oil (or so Ive been told?) and will tap. The 1.6ts is the misses car, she doesnt get above 2,500rpm much and the variator will start to tick. After a bit of a thrashing it will quieten down (needs to be above 4000rpm for the variator to activate) and the oil to pass through the variator.
Giulietta 170 MA TCT Business Edition/Spider 3.2 V6 Q4