Near death of Liu's Rainbow

I was wondering why this little guy didn't grow anything through the summer when all other orchids were bursting with new leaves and roots.
After unpotting I got explanation - it was busy rotting the roots, not without my help of course.
Here is what left:



I have peeled away all mushy stuff leaving some inner strings - they will help to anchor the plant in the media. Then I potted it into smallest net pot with sphagnum moss:



It would help if it was summer with warmer temperatures now. Hopefully it will survive.