first pic is a new growth,,
the second pic is a SPIKE

yes..some of the spike produces own roots, not uncommon.

and sometimes......you might even get a partial developed bulb on the bottom half of the spike.

and yes, it is possible for a catasetum to produce growth and spike at the same time, i had one expansum that is doing so right now.

i guess....all i could say is WELCOME TO THE WEIRD WORLD OF CATASETUMS

CONGRATS on both the growth and spike !!