I have never had a mold problem with stakes in general, including skewers. I think that if they get moldy, it is maybe too wet anyway, or air circulation is badly lacking. Certainly for a Catt (even a little one) , it would not like to be so wet that the skewer (or other stake) rotted or got moldy.

Since I'm going to be keeping this one, would you recommend removing it from the pot to cut off the dead roots or should I leave it where it is since it's already started regrowing new roots?

If the bark seems OK (and since it is a baby, it probably hasn't been in that mix very long) I think you can just let it stay where it is, don't disturb it. If it is growing new roots, it is on its way! Usually the dead roots will just dry up, not hurt anything, and the risk of damaging the new ones outweighs any benefit from removing the old ones.

Your plant has an excellent chance of surviving if you don't let it get too dry again. Cattleyas are amazingly tough plants.

They are damaged by insufficient water when pushing new growths. Mature plants will survive this happening every now and then with substantial setback. With seedlings you sometimes only get one mistake, and they die the next time.

I dropped one of the other plants so decided to cut off the dead roots. It smelled really bad and bubbled like crazy when I put H2O2 on it. I'm kinda glad I knocked it over, there was no damage to the plant/healthy roots.

Don't ever put hydrogen peroxide (H2O2) on roots. If roots are dead, you can cut them off. If they are alive, but you think they may have a fungus, etc, wash them off, let them dry, but no peroxide. No matter what you hear on Youtube. You can use peroxide on a paper towel to wipe leaves that you think might harbor harmful bacteria or fungus.

Hydrogen peroxide is an oxidizer, putting it on live roots is a good way to make them dead roots.

Also, no cinnamon on roots when you hear that advice.

As a rule, if you hear a harsh chemical recommended for use with orchids, get second (and third, and fourth) opinions before trying.

I've been noticing this "fad" with several Youtube channels now too and seems to have spread to facebook/forums.

Another one is the terrestrial pH vs nutrient absorption chart that seems to be making the rounds.

No H2O2 or cinnamon on the live roots, just the rotted part. But I'll take your advice for my future plants. Thanks.

Rymor, I don't have Facebook, thankfully, otherwise I'd just have more to needlessly worry me! Thank you for the heads up!

I have seen the pH chart modified for hydroponic situations. I have not studied the science behind it enough to say if the modified version is good or bad regarding application to orchids. IMO, if your water is neutral (pH 7) to moderately acid (pH 6 -ish), I think it would be reasonable to think a plant can use nutrients at that pH.

Same as Estacion Seca, I still water my cattleyas every day. Usually a good misting with a true watering about once or twice per week. Anthocyanin pigmentation is naturally occurring in many orchids, but very common in catts. I know your orchid is healthy because you have growing leads. New roots attach to new leads, old leads have old roots. Orchids are always growing. There is always some part of them dying, and some part of them being born. You just have to figure out which is which.