Orchid with no roots just sprouted new flower spike??

[snbridenbaugh]

So, obviously, a newbie here. This is the first orchid I've ever had and I'm amazed it has survived. But a while back the roots stayed too wet for too long and the poor thing ended up with root rot. All of the roots died. It had already bloomed so I was just going to let it live out its days until it died. Well, today I went to check on it and, as expected, the flower spike is dead and there are no new roots but there is a new flower spike growing now! I guess my questions are:
1. How is that even possible?
2. What can I do to promote root growth?
3. Can it just be a little "relic flower spike" that was growing before it really died died? That doesn't seem like an efficient use of a plant's final energy...