Pretty sure he was taunting Jenkins as well. He turned around and did a 'keep running your mouth' gesture with his hand as soon as he caught it over Jenkins, then did the wave to McLeod as he was crossing the goal line.
Tate, from what I've heard, is a pretty big Smitty fan. I wouldn't be surprised if that had a part in him doing the taunt.
Smith would NEVER pull a move like that. Tate wasn't pointing at Jenkins, he was taunting the safety, even though McLeod wasn't even involved in the play beyond trying to run him down. Smitty wouldn't ever act like he was hot poo just because he had twenty yard head start for the endzone, and he wouldn't nearly run out of bounds acting like an ass.