Des
What you heard is similar to my experience; all roots not suited for water will rot in an ugly fashion in water. My current thinking is that if the plant is strong enough, young enough, has good disease resistance, does not currently have diseases I cannot treat, and has some yet unexpressed genetic program to become a mermaid it will eventually produce new roots for water given good enough conditions for that particular orchid.
Some people will accuse me of practicing "tough love" but when I ended up with a dozen+ plants ( on purpose - I adamantly deny being an addict) after the last Philadelphia Orchid Show with unknown cooties crawling and flying out of decaying media at night. I left my orchids on the side walk since I did not want any of these in my house.
I submerged each one in nutrient solution with 1/2 teaspoon KLN/gallon to allow the roots to absorb nutrition and growth regulators before they were traumatized.
After dinner I dumped this solution and placed them in physan solution for about an hour before I started taking them out of their pots. I then proceeded to cut off all roots and rotten material with a new razor blade for each and hosed them clean. Then I treated the really bad rot with Gentian Violet and let them dry and went back to the party again.
Finally they were all transferred to disposable 12-16 ounce cups with nutrient solution. The two pictures of Blc Momilani rainbow show the typical results.
The first is the two month picture showing that some of the old pseudobulbs put out new roots and the new lead is already peaking out of the solution.
The 4 month picture shows that this same new growth is now the same size as the previous growth and has its own healthy root system.