Help... Really bad root rot!!

[Marisol]

Hello. I had recently posted a question about my Phal, whether it was growing a new root or spike. It turned out to be a root growing upwards and in one of the replies, somebody made a comment that maybe the root was trying to get out of the very wet medium. So I repotted, and they turned out to be right! There was a LOT of damage and root rot one of the leaves even stated yellowing! I trimmed away all the damage I could and my poor Phal was left with 2 good roots. There is a tiny new leaf growing too, does that mean there's hope? I am afraid that the rot might have got to the stem of the orchid.
The clear plastic pot i used has an inner net core that promotes air drying and photosynthesis. I packed the medium very lightly and added some packing penuts that I had ordered from rePotme.com after reading some of their orchid care pointers.
Basically, I'm just waiting to see what happens next. Is there anything else I can do for my plant? Please help, I don't want to lose my beautiful Phallie.