As Ray says, if it was a spike that's one's a done deal. The one that was yellowing was probably on its way out anyway. Going from being "mounted" (growing on a tree) to being potted, you need to give the roots time to reestablish in a different medium. Stick it back in the pot and leave it alone.
Cymbidiums are overall extremely tough. I have used a sharp knive, occasionally a hatchet or machete, to divide them.
Patiently wait, and you'll probably have new spikes in its next bloom season.
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Caveat: Everything suggested is based on my environment and culture. Please adjust accordingly.
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