Yes, the terminal spike will develop into a full flower spike, but the plant won't bloom again.
You can hope for a keiki off the spike though
As for orchid viruses, I have the AOS book about viruses and pest. Some of the pictures aren't the greatest as many are black and white. I do a lot of internet searches to find pictures of orchids with known viruses. If you're concerned, you could test it, but most test only test for a few of the more common viruses.
Critter Creek Lab does it, and there is
Agdia where you can order test strips.