Thanks for the reactions so far, yes it was a "recent" acquisition form around July last year, so a division and the root system appeared damages to me.
It has two pseudo bulbs now, the "elderly" and the one from the growth from last year.
It seems to respond to watering (its now every 1 - 2 weeks, to prevent rot), it makes the shrivelling disappear so I assume its still alive.
I have heard that it does not like changes such as repotting but this surprises me.