I'm confirming this phenomena,
when there's no user logged onto the server, SMC.EXE cpu utilization runs at 50% per server instance. (I have one physical Dell 2850 running 3 virtual servers)
In each of the 3 cases, once the administrator was logged onto the server, SMC.EXE usage went to 0%. When the user was logged off (no user logged onto the server anymore) SMC went right back to 50%.
Please have your engineers address this soon. Having all 3 virtual servers running at 50% is running my physical box at 80% overall, with no real work happening.