Vexing Catasetum Monnierara Millennium Magic 'Witchcraft'

[MJG]

This is my first catasetum and it's causing me heartburn. I started a thread about it in June and received lots of help. I could use another round of help now please.

First. It went from fully leafed out to having just a single leaf about 6 weeks ago. For 6 weeks it's looked like the pic below. One leaf. It didn't flower.

For the last 6 weeks I've been watering it like I don't know whether it's dormant or not. I give it a little bit of water 2-3 times a week. I don't soak it, just keep its roots from drying completely out. It gets some late afternoon sun, nothing too intense. At what point do I declare this to be dormant and stop watering altogether? It seems too early in the year from everything I read. But I don't want to rot the roots by watering it when the leaves are mostly gone.

Second question. The 2nd picture shows a little nub that I found today when I was gently picking around its base to see if it has any live roots left. What is it?? Could it be a flower spike?

What should I do with this plant? Thank you.