I agree on the age of the medium, it should be replaced.
On the leave issue, it does not look clearly like a rotting of some sort. Now, if it shows a part looking wet, or depressed, it can be something bad. Does it evolves slowly or fast?
The itsy-bitsy growing from the base is still a bit undetermined for me, but it can mean two things:
- Either an ancestor of this hybrid is a keiki Stakhanovite.
- Or the phal is suffering (the old medium can be a cause) and it triggered the rescuing plan. The good thing is that if the main plant has a real issue and dies, the keiki will remain, with the root system of mom, so fast growing.
We shall see, but if the base growth is a keiki, you won't lost everything anyway. and if the phal has no serious issue and you've still the keiki, then it'll be even bigger and flowering.