You can re-pot if there is any "growth." (With phals, I just pot, and don't really care when).
My suggestion is to get a clear pot to check the progress of the roots without having to take it out of the pot. If you have a decent large deli-container (like 2-pint size) you can poke holes in it, and there is your pot.
You do not know if the roots are rotten. Roots growing from the top do not indicate dead roots below.
Also, After spiking/blooming phals (and all other orchids) do really have a slight dormancy period. They just stop growing. Then they start again.
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