I have just got exactly the same on my Foz.
Just went out for a drive while on holiday - got the same type of burning smell, stopped the car & searched everything - nothing alight or melting.
Thought the smell must have been from something I drove past.
Anyway a couple of hours later went out for a drive to the pub, pulled away from a junction - huge almost backfire/pop from the airbox.
Everything seems fine and car still drives perfectly.
Going to disconnect the battery for a few hours and hope that the sensor readings reset.