I had only been driving it for 30 secs or so so I doubt it was overheated or anything. If there was smoke i would have noticed and it doesnt smell like smoke... Anyway I resoldered everything and still nothing... :-(
See if you can carefully cut the heatshrink off the ESC and look for burnt or discolored components. Check the motor wire solder joints to the circuit board while you are there. If you don't really know what to look for, take some hi-res pics of various views of the ESC and post them if you can.