Bl. Morning Glory

I posted about Bl. Morning Glory exactly one year ago - in November 2011, when it just arrived from Clouds as a seedling.

Since then it grew many new pseudobulbs and roots.
Somewhere down the road I moved it to a larger pot.
Here it is now:



Recently I noticed that some bulbs started to grow something papery-white from inside the leaf:



I am guessing that's where the flowers might eventually come out from.
Am I right?