1st Question....could you be smelling oil from a pinched matt on the cylinder head from the Alternator exchange?
Or oil leaking out from the 2 O-rings that are on the Alternator?
2nd question....There are many things that can cause your waterpump/mechanical seal to fail....wrong type of automotive coolant (new acid technologies) will kill your seal etc.
Was it replaced correctly? When replacing one, you must replace all the parts as a complete unit.
You must replace the prop/shaft, bearing, mechanical seal, and oil seal, then you must press it in correctly while SUPPORTING the bearing in the cover, or you'll just end up pushing the bearing out a bit, destroying stuff.
If its leaking out the hole like a sink drip, yes, you have to replace everything.