You could repot now, or wait until the new growth is a bit bigger. They do like to be a bit snug in their pots, but there should also be room for some new canes.
Older growth will die eventually, and old foliage is shed after a time, tho my few latouria Dens hold the foliage a long time. And one I have had a few years hasn't lost any foliage in that time (I don't think). So maybe a repot sooner rather than later might be a good idea, so you can check the roots.
You can certainly repot into bark. Until recently, I had my spectabile seedling potted in a combination of pumice and perlite (as are my some of my other Dens). A month or two ago, I repotted it into chc, and that's been fine so far as well. So, various media can be used so long as the water requirements are met.
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