What's her general health looking like? Is she bright, or looking sick? What's her temperature?
I dealt with a yearling steer a few years ago which had been stuck somewhere tight and one of his muscles deep in the stifle was badly damaged and the whole thing eventually burst out through his skin. It took weeks of washing and treatment and he eventually came right - and went to slaughter. During that process, the wound had a number of different sorts of smells which I began to recognize as ok or not. There was a detectable difference when the wound went from ordinarily healing (which sometimes included a putrid smell of dead flesh as some of the damaged muscle decayed and then came out) to there being some infection present in the wound. One of the things I did regularly was monitor his temperature, particularly if I was concerned about that sort of change. The vet came out a couple of times in the early stages, because I wanted to ensure he was happy I wasn't breaching any welfare codes by keeping the animal alive while trying to fix him. When there was infection, we gave him antibiotics, but generally he just got fed really well and gradually came right. (If you're interested, I can send you a link to some pictures of the process - although it's quite different from the wounds you're dealing with.)
Your calf's wounds may just be smelly as dead stuff is being sloughed off. Infection smells sort of warm and sweet in a putrid sort of manner. Bearing in mind you're covering her with antibiotics, you're probably alright, but can you phone your vet for an update?