In the latter 1890s and early 1900s, various Powder Companys offered 'Smokeless' Powders for use in erstwhile Black Powder Arms.
Many people did this, using various proprietary kinds of Smokeless Powder, in their old Cap & Ball Rifles and Revolvers as well as in re-Loading for Metallic Cartridge.
There is no reason why one could not use 'Bullseye' or 'Unique' Powder in a period Colt Navy or other Cap & Ball Revolver, which many people did do with perfect impunity, to duplicate Black Powder Velocities, so long as one manages an appropriate Loading Density - which is the ratio of how much net Volume there is under the Bullet, to the amount of Powder used...which is then also to be considered with respect to the weight and type of Bullet.
Same with any Muzzle Loader, Shotgun or whatever, same as any Metallic Cartridge situation.
Since there are no Tables for these decisions to be guided for Muzzle Loading Arms, one would have to extrapolate or work out one's own Tables...and decide proportions of what Powder to how much 'Air' which is to be beneath the Bullet...for acheiving an approximate peak pressure and or acceleration for the Bullet, which the Arm in question will be comfortable with.
Obviously this would be important to manage correctly, and would require a very deliberate technique, both in prior calculating, and in very precise practice when Loading a Muzzle Loading Arm with Bullseye or Unique or other.
Consider the average mid range .38 Special Wadcutter, using Bullseye -
These are considered 'safe' to use in the S&W Model of 1899 'M&P', or any other .38 Special or .38 Colt Revolver of the Black Power era.
A few grains of Powder, and a large amount of Air under the Bullet, and, a mild, easy low to midling Velocity Round capable of supurb accuracy up to about 50 yards or so.
Pressure generated by a Propellent is a function of burn rate, time it has to burn, and, the volume it's gasses occupy - or have to occupy - as it is burning.
Soon as the Bullet starts to move, that volume starts to increase.
Loading Density is one way for these factors to be harmonized for acheiving an optimum balance for the Arm and the purpose.
Far as all that goes.
In summary - Smokeless Loads for erstwhile Black Powder Arms, would have to be calculated to have a correct Loading Density for the Arm in question, which means amount of Powder, amount of Air beneath the Bullet, and, appropriate Bullet kind and weight.
Just as Smokeless Loads do when for Modern Arms.
But, is there any reason really to make the effort and exercise worth the troubles?
Not for me, but for someone else, maybe there are reasons which would justify the effort for them.
Personally, I like Black Powder Metallic Cartridge very much for any Revolvers, old or modern.
So for me, other than studying the matter academically, I have no motive or interest to use Smokeless in what are otherwise Black Powder Era Guns.
Particularly in the Black Powder era Top Breaks, Black Powder Cartridges will give a much better performance than the off the shelf 'SAAMI' compliant Smokeless ones of today.
So in my opnion, really, for all practical purposes and satisfactions, in any Black Powder era Arm, one really is best in many ways to just use Black Powder.
The Velocities will be better, the report and recoil will be more satisfying, and no worries!