To cut or not to cut at base of crown?

[redperphexion]

I have an office orchid bought from the grocery store. I won't be too sad if it doesn't make it, as it was simply bought to spruce up the reception area. That having been said, I'd like to save it if I can.

Of course it's planted in uber-soggy moss, and I would bet that many of the roots below moss level aren't good. In fact, the body of the plant below the bottom most leaves looks to be shrunken and grey/brown.

It's a large (mature?) plant: 10 large leaves, 1 smaller one growing in; 2 flower spikes, 2 branches each; half a dozen air roots. (Steroid plant!?)

My question is: If I do find that most roots below moss level won't make it can I cut this orchid off cleanly at moss level and 'repot'?

It would be tricky to do since there would be nothing much to anchor it there, but I'd be willing to steak it with bamboo skewers and tie it down gently if necessary. There are several places on the stem just under the bottom leaves that look like they could produce new roots, too.

TIA,
Laura

p.s. I'll try for pics, but it's tough since the plant's at the office and I may never remember to bring my camera!