I wouldn't worry too much.
It looks in very good shape, oncidiums do pull reserves from older leaves when they are producing new growths or flowering. The remaining leaves look great, lots of new roots are forming and they are looking healthy so I personally would not worry about this.
My dendrobiums are shedding their leaves, its that time of year, could also be that, my oncidiums have dropped a leaf each also.
Just carry on doing what you are doing, it seems to be working
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