Like a lot of plants with "sprays" of flowers, these bloom from the bottom to the top and can have half the buds ready to burst with the other half still tiny.
The small branch off the original spike may throw more blooms given enough warm weather, and unless the whole stalk turns brown and dries up, it may produce an offset or keiki.
The best advice I got came from a gentleman with 4 greenhouses full of orchids of every description (and some worth 100's of dollars). He said that orchids are just like any other plant. Somewhere in the world that expensive plant is just another pretty flower growing on a dead tree.
Watch your plant, see what it does and use the knowledge you have about plants in general. If something looks odd or wrong, ask someone.
