Your Phalaenopsis orchid needs to be repotted as soon as possible into new media. Those greenish things are roots, none are aerial roots.
They come out from the base of the plant and grow downward 8" to 12" long or more! Yours are dying from the tip after growing just a couple of inches. The media is sour, acidic, and holding too much moisture for too long of a period of time causing the tip of the root to die and stop growing. Instead of a nice healthy root system you end up with a bunch of short roots that will not support a healthy orchid.
The orchid root needs air movement to survive. I suspect that your roots are suffering down in the pot. So far, the leaves look healthy but that will change soon. They will start to go soft and wrinkle due to an overall lack of water.
If you repot it soon, it should recover quickly and bloom on time.
Within our Orchid Forums here in the NGA, we have a lot of threads talking about how to grow Phalaenopsis. It would be a very good idea if you would read through those. There are pages and pages of them. You can learn so much. Including a sticky there on "Supermarket Orchids-Phalaenopsis"!! Please read these.
In the meantime, I hope that I have answered your question and good luck!!