Don't know about pine, but 1 part (chlorox) bleach to 1 part water does wonders to the timbers in our frame (14 kinds of hardwood). The frame has been up for almost a year and now we are closing the last bit of it in. Right now we're just cleaning the side of the timbers facing the SIPs, since we won't be able to reach that side when the SIPs are all on. No, there is no smell afterwards. We rinse with water, but there is still a chalky hue to the timbers when they dry. I think another rinse + oil will bring the color right back. (the color comes right back whenever we wet the timbers). FWIW, Boracare (similar to Timbor, but supposedly better) did not prevent my timbers from mildewing.
-Thomas