Fiddling with the formula is probably not an option. Expense and you might get it wrong.
The advice around here where Cymbidiums are grown as garden plants is to use the blue formula when the Cyms are growing new leads (warmer months) and yellow formula in the cooler months.
Find some complete Cym. culture notes for CA and see what they say.
Link to a past fertilizer thread that contains some info.

Here is a link that might be useful: Fertilizer Thread

Maybe a bit more general question here... Does anyone fertilize with Schultz's Orchid Food (NPK 19-31-17 + micronutrients)? What do you think of the ratio? Any particular orchids you use it for or it is good for? Do you follow the instructions on the label (1/4 tbs per gallon with every watering) or use less/more? Thanks.

I have included a link that discusses fertilizer with a high P number. Your fertilizer is fine but probably expensive and might be great if you have a one Genera collection where all the plants are in step and mostly bloom at the one time.
But what happens when you have a large mixed Genera collection and have orchids at all stages of growth including blooming at all times of the year. Nothing much that i can discern. It is summer here and i am going to take plants to an orchid society meeting tonight. They have been fertilized from late spring with a high Nitrogen number fertilizer.
The fertilizer in question is Miracle-Gro Soluble Plant Food NPK 24.2/5.6/11.7
I use a Fertilizer with a lower N number at cooler times in the year.

Here is a link that might be useful: Previous garden web discussion

arthurm, thanks a lot for an expanded answer. I did read the other thread you'd posted a link to and found it very useful. I grow mainly hybrid Phals and Cattleyas and have used Schultz's Orchid Food for many years now. After reading the fertilizer discussion in the other thread you mentioned, I began to have my doubts about the high rate of phosphorus in the composition (19-31-17), so thought I'd check with the experts.

dobieone:
This should work fine for your cymbidiums from March through August. No other fertilizer is necessary. Cymbidiums love water in summer so don't allow them to be dry for more than a day. Is that fertilizer the Grow More brand? Use 1/2 teas. per gallon every time you water. Once or twice a month water heavy with no fertilizer to flush out any buildup of salts. http://www.cymbidium.org