For what ever reason, sounds like you were getting WAY too much fuel.
The smell is a result of the converter trying to do it's job. Normally, the converter does not produce this odor on it's own. It is a result of another issue in most cases.
One of a few ways to test the converter is to test the PSI in front of the converter, or... since you probably do not have the proper stuff to do so, simply disconnect the converter and see what happens.
I am betting that there will be no change if you disconnect the converter. They do not fail spontaneously, they take time to get plugged.
I am hoping that your PCM simply was in a "Glitch" mode and was telling the injectors to stay open too long.