To answer from RAW, the spell doesn't say it has those effects, so it doesn't. But the general rule does say acid has that effect, and the spell doesn't explicitly override the general rule, so it does.
It doesn't, and it does.
Conflict.
DM's choice.
When I doubt, I tend to assume that the spell's author balanced the spell exactly as written and that he didn't even consider outlying rules. In this case, I bet the author never even thought about the fumes (if he had, then in due diligence, he very much really should have mentioned that, either for or against, in the spell description).
Given that he almost certainly did not consider this, I then assume the outlying rules don't apply. Maybe this magical acid is less fumey than normal chemical acids. Or whatever.
The only time I would rule otherwise is if I consider the spell to be clearly underpowered for the level it was assigned, in which case, I then include the outlying rules just to make the spell useful to someone who wants to prepare it.