new psychopsis: water does not drain!

[Kim in CT]

I treated myself and bought my first psychopsis (Mariposa 'Green Valley'). It has two flower stalks, one is in bud. I got it home and placed it in a larger container of water to soak for a few minutes, and when I lifted the pot THE WATER DID NOT DRAIN even though there are holes in the bottom of the plastic pot. I had to decant the water from the top of the pot. The newer pseudobulbs and new growths are jammed against the edge of the pot, as are the roots. See pictures.

Advice? I'm guessing a repot is in order but I'm nervous.
I've read that psychopsis do not like to have their roots disturbed and I would hate to lose those flowers... How should I proceed? My ultimate goal would be to have it in S/H and I think I do see a new root forming between clumps...