As you can see from the picture, I've got a pseudobulbt hat's growing out of the top of another one. It seems healthy and its roots are going into the bark below.
I've had this plant for about two years now I think, hasn't done much. I think this might be the first pseudobulb it's put out.
I bought my Psychopsis as a tiny seedling with barely any root and just plopped it in red lava rock and a basket pot where it has been these past years, slowly growing larger. No idea how you re-pot these successfully. Good luck!
Have one which has had a spike on for about 6 yrs and blooms on and off. Had to divide it last yr since a big pbulb rotted. Now have a second spike developing.It's just in med. Orchiata bark but at our recent mtg. folks have said that they do well with a lot more moisture and even sit the pot in water!
Looking at the picture I would leave it in the pot, it does not look too small. The roots will find their way into the media, or like some of my oncidiums just wander all over the place. As an aside, your unknown plant on your tumblr page is a Swedish Ivy (Plectranthus sp.)
I moved my Mendenhall Hildos to s/h and with a heating mat it hasnt skipped a step- i'm getting a new bloom growing. I realized i wasn't giving my psychopsis enough water so the s/h has been a good solution and my new pbulbs are growing much larger than the last two. my psychopsis was literally only roots in a pot though- all of the bark had rotted and i literally had a solid rectangle of LIVE roots. mine had 3 large pseudo bulbs and 4 smaller ones in the same size pot as yours. I wouldnt repot your yet.