I'm no expert, but from reading various forums this topic seems open to debate. I think you'll find most of the posters at this forum lean towards cutting the spike down at the base of the plant like the speaker recommended.
I've cut all of my spikes down to the bottom except for 1 plant that seems healthy, happy, and is producing 2 sub spikes from lower nodes. My other 15 or so phals are "resting." I just buy new plants to get my flower fix.