I had the false sense of going low when first diagnosed. Its pretty common with anyone whose blood sugar is higher than normal.
However, I started out with reactive hypoglycemia before developing diabetes, so I recognized the symptoms pretty easily.
You may experiencing some irregularities in your body's insulin response, especially when your meals are irratic. When diabetes starts, and you have insulin resistance, the pancreas can be kicking out an insufficient amount of insulin, causing a blood sugar rise that's too high, then your pancreas overreacts and kicks out more, causing a sudden drop.
I'm sure yours was caused by the extra activity, since activity makes your body burn sugar and also reduces insulin resistance. Skipping a meal or being late for a meal on top of this can definately lead to going low, especially when you're still newly diagnosed and have some active beta cells.
Many type twos are diagnosed too late and their pancreas is pretty much burned out, with something like only 10 to 20% of normal insulin production left, which quickly goes down to zero. If you are controlling it with diet and exercise alone, you've got an early start and may be able to control it this way for a few years.
By the way, fat slows down the absorption of carbs, so Smarties aren't the best choice for treating lows. You'd be better off using LifeSaver candies or any sugar based candy, rather than chocolate.
The best way to treat real lows, is with glucose tablets. Dex4 are not too expensive and work very well. At this point you probably don't need to bother with them, since regular candy will work and you're not on insulin. Later on, if you go on insulin, you need a very fast dose of glucose, which is why I carry Dex 4 in my purse and keep them handy in the house.
I find that my Freestyle meters are extremely accurate. I've had them lab calibrated and they are within 0.1 of a point. Pretty good if you ask me!