Yes and no...
The velamen does get wet and even if it dries up quickly, it retains more water than a bare root. The efficiency may be low, but always when water is going through capillar sistems, there is a salt built up. I'll show a pic of my little Encyclia seedlings growing in lava ashes; there are a few twigs of dead moss, where the little leafs have concentrated salts that "bloom" at the tips of it - the same way the dead velamen cells would concentrate salts if they could freely rush through!
Besides, there is also an active taking up of nutrients in root cells. Where does this take place in orchid roots? Over the whole length of the root or just in the green tips - where there is no velamen?

I think orchid roots without growing tips are still active - in fact they can regrow sometimes laterally or even at the old tip - this would mean, they can take up water over the whole length even if not growing any more - and this is different to other plant, isn't it?
Fer