I did wait until the blooms finished, Ken. Then just pulled back the little triangular calyx that's on the node, and dabbed a tiny amount of the paste on the node with a Q-tip. Then I stuck the little piece of calyx back over the paste. (they usually break off when you bend them back) I think I did re-apply the paste once about 2 weeks after the first application.
I only treated the two nodes closest to the plant on the stem, as that's what the instructions said.
On my Phaius, I treated at least 3 nodes on each stem, because the stems were 3ft. long and had a lot of nodes. They all made keikis, I was amazed!