Yes, it moved when I took that photo and no, it didn't smell too bad.
Having said that, I saw Wim Delvoye's 'Cloaca' live a few years ago, so I guess I'm not someone you should trust when it comes to olfactory modern art. :)
Steel, glass, flies, maggots, insect-o-cutor, cow's head, sugar, water.
Photo taken at the Gagosian Gallery (exhibition from 20th June - 4th August 2006)