Hopefully, it is just sacrificing the oldest growth in an effort to adjust to having its roots disturbed. When stressed, plants will often take measures to help them survive until they can recover. If you continue to give the orchid the best care possible, it should recover.
The Mendenhall 'Hildos' I currently have (bought fifteen months ago?) is alive and growing slowly (it adds new pseudobulbs two/three times a year with slightly larger leaves each time) after being moved into lava rock immediately upon receipt. It is a very young plant and going to take five to seven years to bloom but it is the leaves that I like with this one.
Good luck!
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I decorate in green!
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