Final answer:
The SMOKE light in the GEN 1 LINE pb indicates smoke detection in the avionics compartment, signaling a potential fire hazard that requires immediate action.
Step-by-step explanation:
The SMOKE light in the GEN 1 LINE pb (pushbutton) typically indicates there is an indication of smoke in the avionics compartment where the generator line is located. When this light illuminates, it is alerting the crew that a potential fire hazard exists and immediate action may be necessary. In aviation, it's crucial that the crew understands this warning so that they can follow appropriate procedures, which might include turning off the affected generator and addressing any potential fire risks according to the aircraft's emergency checklist.