It depends on whether you want a green pod or a ripe one - you can sow (in flask, obviously) green pods, but if you're doing any other kind of sowing, you'll probably want to let it ripen. Green pods are perhaps easier as they're easier to decontaminate in the lab. Really ripe pods split open and spill seed, but you'll then have to sterilise it.
Assuming you're not going to do the flasking yourself, the lab does it. If you are, you have some reading ahead of you - google DIY flasking orchid seed or similar phrases. alternatively, try a book like one of these: books
Most people use alcohol or some kind of mild-ish bleach/hyphochlorite solution.
To answer your question, as most labs prefer green pod culture - on an orchid it's actually a "capsule", by the way (yet we still refer to "pod parent" and "green pod harvesting" for some reason) - the trick is to be observant, and when you see yellowing of either end, it's time to harvest.