super stinky phalaenopsis roots

[kelb76]

I am new to orchids in the last several months. I had one that just completely died and another that lost its petals. I figured it was dormant (how long do they go between blooms? I've been waiting a long time). I don't water them often, so I don't think I've overwatered. I usually toss an ice cube every 3 weeks. The pot it was in was very narrow and I decided to repot it in a wide pot. I noticed the new stem started to yellow and the main stem has spots. When I took it out to repot it the smell almost knocked me over. It was potted with mostly dirt and it was completely saturated. There was no drainage in that pot so it's been sitting in water. I potted it with an orchid mix in a larger pot. Is it salvageable? I'm hoping being in a new home with drainage will help it, but after smelling that I fear it's got a disease. should I hold out hope or be prepared to say farewell.