Welcome to the world of orchids. It is fine for the moss to still be wet, but let it dry some before watering again. Take a #2 pencil or a bamboo skewer and stick it down in the moss. If it comes out wet, wait to water. More information on watering and general care is in the FAQ above.

Watch out, orchids are addictive!

Good advice. Also, your phal will be able to tolerate moister conditions around the roots for longer if it is getting good light and warm conditions, which will keep it aggresively taking up water for itself - so those roots will be working instead of just sitting.

Can't say about the leaf. New leaf grown since you've had it, or it was it that way when you bought it?

John