Fertilizers do not have "instantaneous" effects on plants, so both scenarios you mentioned would be too late. However... "Bloom" fertilizers don't really do a thing for blooming.
"Way back when" Dr. O. Wesley Davidson of Rutgers University devised the first commercial "mineral" fertilizer, Miracle-Gro. He later devised a high-nitrogen version - Mir-Acid - for plants that like the acidity, including stuff like azaleas and orchids. Both are really good, general purpose fertilizers. Unfortunatley, over time, folks began noticing that their plants fed Mir-Acid grew beautifully, but were getting "stingy" about blooming.
It turns out that excessive nitrogen is akin to feeding kids sugar - gives them lots of instant energy, but does nothing for overall nutrition, and can lead to a "crash". So, to counteract that, the manufacturers added lots of inexpensive phosphorus-bearing minerals to the formula, and the marketing folks pushed the fact that this new formula "boosts" blooming. It didn't "boost" anything, but in fact, what it really did was dilute the nitrogen, allowing the plants to bloom normally.
The bottom line is that orchids don't require a great deal of fertilizer in the first place, and while there may be some that quash blooming if they are overused, there are none out there that promote bloming at all. For the best blooms, provide the overall culture the plants needs, and it will bloom to its genetic peak.