iHomeServer does not support the creation or modification of iTunes Smart Playlists via the iHomeServer Console interface.  This is because there is no published API for accessing this functionality available from Apple at the time of writing.

 

You can, however, create Smart Playlists by stopping iTunes under iHomeServer console and running it interactively - either by logging in via Remote Desktop Connection or by running iTunes interactively from within the iHomeServer console.  If you set up your smart playlist within iTunes interactively, the playlist will be available and will update when iTunes is subsequently running under iHomeServer control.