Dormancy in a Monnierara Millenium Magic

[Jinh]

So I purchased this a few weeks ago. It was lost in the mail for a few weeks. The seller said it would be fine because it would just be in its dormant stage.

I got it today and the new pseudobulb looks quite young and like it is still growing. The leaves are starting to yellow (probably due to being in transit since Oct 29th) but it is also sprouting new roots.

So water it or not? Repot it or not? There is quite a bit of algae in the moss and the paper towel that wrapped it has started to break down and is stuck to the plant.