Phalaenopsis leaves yellowing

[harpspiel]

Sorry all, my camera has been on the fritz, but here you go, as promised -

As you can see, it is now mounted with some sphagnum moss behind the roots. This actually occurred to me before I even read the King of orchid growing's posts. It seems to have stabilized at three leaves. Thanks so much RosieC for your theory - it hadn't occurred to me that it might just be shrinking to a size the roots could accommodate. I think that may have been the problem.

Since the orchid seems to be out of immediate danger now, my main concern is that I not over/under water it. In the tank, the roots become white within a few hours of when I water it. Should I water it every other day or twice a week, and how often should I mist it? What are your recommendations?

Thanks for you thoughts. By the way, King of orchid growing, it's a she, not a he, and her name is Ariel.