The good news is my Onc. has three 3" spikes and a 4th newly emerging spike. This will be it's first blooms produced under my TLC.
The bad news is she has an approximate 1/2" deep hole in a spike producing pseudobulb.

I'm suspecting a slug or snail, but am not familiar with their damage or how to treat if that is the case.
She's currently in s/h culture and grown outside on a table well off the ground. Recently we've received alot of rain and the s/h pellets are very moist at the top of the pot. She has one yellowed leaf at the junction of a spike on a different pseudobulb.

I'm suspecting too much moisture for this ailment and emptied the reserve today to let things dry out a bit.
I read up on slug damage and found an OB post that suggested submerging the entire plant in water. Under normal circumstances I would do this, but the plant has been exposed to alot of moisture recently and I don't want to cause more harm than good. I've thoroughly checked the plant and can find no evidence of any other fresh damage or pests. Any suggestions on how to proceed?