New Phal with keiki

[new_orchid_rescuer]

So I went into a flower shop looking for clear plastic pots and ended up with a new phal with a baby! Only $15 so I figured it was 2 for 1! They didn't know what colour it will be, so it will be a fun surprise! I'm guessing that there will be some red because of the red on the underside of the keiki leaf (that's what I've heard)
So I have a couple of questions...
1. do you think the 'spike' in the third picture is a new root or a spike
2. should I repot... I know I really should because the media looks pretty broken down and there's mold on the wooden stick, but if it is a new spike would repoting interrupt it's formation? (deep down I know I should repot)
3. If/when I repot, should I split the keiki from the mom?