Ok so it's been a week and a half since repotting in soaked bark. Three flowers have dropped and the remaining three are looking limp, even the two that opened less than a month ago. The roots are light green with some darker spots and the bamboo stick is still moist. One more leaf fell off though it just turned light green and a bit yellow instead of wilting like when I over watered. Can I water or should I wait a few more days? Could it save the flowers?

Does the new plastic pot have holes in on the sides and bottom so that the water drains out and the plant gets air to the roots? I can't tell from your picture.

I cut holes in the bottom to let it drain when I water it, but it sits in a bigger pot on top of small river rocks.

I watered it a few days ago when my bamboo stick got dry. I only have one flower left though. When it drops, should I cut the spike back part of the way for re-bloom (as the vendor told me) or all of the way?

If you cut the spike down all the way it really helps put energy into the plant. I've done that with my rescue Phals that really were in bad shape. If you feel along the flower nodes you can tell if they're an empty node or have a bit of a bump to them. The bump can possibly push out another flower spike / branch for you. From what I can see on your pictures I would tend to leave the spike and see what it does. If it is totally done on the spike it will start to turn brown and dry up slowly and then you can cut it down. A few more holes in the sides of the little pot would also help more too. Remember you're trying to be tropical! with lots of air flow, which also keeps nasty little bugs away too. Think tropical warm rains, breezy warm winds. Also if you get water in the crown or crotch of the flower leaves blow it out with a straw so you don't get black crown rot.

Great thanks! I'll just watch it for now. I think I might have had a bit of crown rot before, but I haven't lost any more leaves so I'm hoping it's cleared up. It's a bit black/brown by where the leaves that died and rotten roots were, but I'm keeping an eye on it. I'll cut some holes too! Thanks!

Crown rot can spread quickly. After you cut some more holes in the sides what you can do is set the pot slowly in a container of water so that you are not watering from the top. Then you can slowly pull the pot out of the water and see it drain out. You can then control how far up the water gets to the crown of the plant. Just set it in slowly so the water does not reach the crown of the plant. Orchids usually hang down in the wild and endure many rains but they drain and dry quickly in breezes. We take them and make them grow up right in pots so you just have to be careful.

I would cut off the spike close to the stem, so the plant can direct it's efforts to the roots and leaves. I would also cut slits or holes in the sides of the pot your Phal. is planted in. A box cutter works pretty well for that.

Now it's planted so the top of the roots are out of the bark so I can water carefully, but could I still have rot from before? Or would that have killed it by now (about three weeks)?

I'll cut slits and cut the spike back when it turns brown, too. Thanks!

If the actual crown of the plant - where the leaves are coming out of - is black and rotted then that spreads quickly and has to be treated differently. I have cut off black roots -close - to the crown and they've made it through if the water is kept away from that part of the plant and it can dry out. Phals like to send out air roots too so that's okay if you have some root getting air.

Well the bark settled a lot so the whole base of the plant and top inches of root is above it now, so I'm glad they like that. I did cut the rotting roots, so I hope it works!