Looks like it's throwing out keikis which are baby plants. Keep it warm with good humidity, and when the new roots are fairly long, an inch or so, they can be carefully removed, and potted up as seedlings. With some luck, you'll have three new plants in no time. Keep us posted.
I actually would not cut the new plants off. Catasetinae can and do throw new growth from just about anywhere on the p-bulbs, so these new growths might not do well on their own. The parent plant looks healthy too. Why do you think it was dead?