Problems with mounted Cattleya

[spikey2004]

Hi!
I have a cattleya that I bought at Home Depot, it was in a bag, I mounted it on a tree trunk that I found in the forest, I treated it and cleaned before mounting to make sure my catt wouldn't have any problems, but ist's been raining like crazy here and the humidity way too high, and now I see the trunk kind of decomposing and with a red stuff on the surface? so I went to PetSmart and bought a piece of wood so I could 're-mount it' I've been thinking of it day and night but before I do it I would like to read the opinion of the experts here
The plant is growing nicely but I want to act before its too late, I should mention that the tree trunk is outside and was never protected from the rain,just from the sun.
It was mounted back in March this year.
Thanks in advance for your help.