Here's one possibility - "damn, look at that smoke, time to give it s**t. What, no coal???????? " It's possible that once you see the smoke, you're so enthused that you push down harder on the drill and go like hell. If you put too much pressure on the drill, you increase the size of the 'grindings'. This increases the ignition temperature. Next time, increase the speed, if you want (probably not necessary if you brought it from no smoke, to smoking pretty good), but do not increase the pressure on the drill. Also, you may want to try a different material. Cedar is not too bad a material, but Basswood (Tilia americana) and Cottonwood (Populus deltoides) works better. Keep us updated.
Doc
You know, now that Doc has weighed in, I can say I do increase speed after getting smoke, but not so much the pressure. I think of fast=heat.
Too much pressure, speed drops off fast, thus creating less heat, plenty of friction, but much less heat.
I'm no expert, far from it, but I'd suggest once you have good smoke, don't try to "go like hell" , if you can speed it up a little, do so, but don't get crazy with much more additional pressure or much more additional speed.
Thicker smoke indicates to me I am doing just fine, and then it's matter of keeping it up so as to help ensure an ember.