Catasetum late season growths, or spikes?

[camille1585]

I bought this Clowesetum Melana's Daughter (Cl. Rebecca Northen 'Grapefruit Pink' x Ctsm. Melana Davison 'Bombshell') 3 growing seasons ago, and it has grown quite well since I bought it.

This is my first Cat type plant, and I have no clue what newly emerging spikes look like. Are the 2 nubbins in my photo spikes, or very late season new growths?

If they are new growths, should I reduce/stop watering?
If they are spike nubs, should I continue watering? Plant is still nice and green, as can be seen in the second photo.