It looks like my photos didn’t upload - trying again ....

Impossible to say, normal orchid media is teeming with tiny life, not a pristine sterile place.

I wouldn't trust it. I've had some orchid bark with white mold type stuff develop that seemed to harm the orchid plants. I usually put my orchid bark in the oven to sterilize it before use because of that.

Thank you Sheila!

If It wasn’t doing so well, I would have immediately thrown out the bark with the white stuff on it, and replaced with new bark - but as it’s healthy, I thought, it’s not broke - don’t fix it. (But check with the experts on gardenweb to be safe!)

Judging by your plant's health, I'd say that fungi is benign at worst (just affecting the bark) and perhaps mycorrhizal that's even helping your plant.

tj