Time will tell....
I looked back in my own records. I purchased a 2 bulb Millennium Magic plant in Sept 2013. Today I have 14 bulbs in 3 pots. Point is that these can grow like a weed in the right conditions.
My vote for yours is a bulb😀
A photo of my one pot with 6 bulbs - 3 growths this season, including 1 in front that was so tiny when I began watering that I thought wouldn't make it.
I have not heard of or seen these in s/h, so I can't help on that. Millennium Magic is notorious for not wanting to go dormant but I force them by stopping watering completely by 1 January every year. You can research further on Sunset Valley Orchids website for pre-dormancy treatment.
Too big to be a root as I know what roots look like.
I'm not sure how the spike nubbins look like as I bought this already with them grown.
It has the form of a small bulb.
So this means it doesn't get a rest ?
Once the flower spikes are spent I want to reply in s/h.
Do I keep watering ? Keep fertilizing ?
More help will be appreciated as this has caught me off guard.
Thanks again.
You're going to want to wait until it becomes apparent this is not a root before you make big plans. I'd wait until dormancy to repot; whenever that may be.