Rot on the psuedobulb of my catteleya hybrid?
 

Hi! I just received this Epilaeliocattelya in the mail and watered it. However, one of the pseudobulbs looks slightly grey tinged and sightly wrinkly. Does this look like rot or am I worrying over nothing?

My first impression is that may be an area of damage from previous scale insect infestation. The new growth looks as though it is growing well. I would isolate, and watch the plant extremely closely for signs of scale.

Epilaeliocattleyas often need a lot more water than Cattleyas, so don't let this plant dry out for long between waterings. If you were thinking about repotting, now would be a good time. Given the possible old scale damage, I would use a hose to wash off all the old medium, and examine the whole plant closely before repotting into a medium of your choice.

the grey wrinkly coverings are just old dried sheaths and can be rubbed/pulled off. You can give the whole plant a good wash in the shower and dry the leaves with paper towels. You will wash away any potential insects and your plant will look in much better shape but I see nothing to worry about. It looks in good shape, just keep an eye on when the substrate needs replacing. It will start degrading into soily bits over time and stay wet longer than it should.

Another thing to keep an eye on... as long as the pseudobulb is firm (even if wrinkly) it's OK. The wrinkles could be due to loss of roots on the old pseudobulbs (which happens in the course of nature) - they then becomes a source of energy for the plant, which will eventually suck them dry. It's the new growth that you need to be concerned with . If dark pseudobulbs become soft and mushy, then you need to act. But if it is just dessicated due to root loss, new growth brings new roots.