Forgive the noob ignorance, but what does 'CAM' stand for?
http://en.wikipedia.org/wiki/Crassulacean_acid_metabolism
Crassulacean Acid Metabolism
One of 3 basic forms of plant metabolism (C3 and C4 the other 2). This is still a simplification because some plants can switch depending on environmental conditions.
But CAM plants are particularly suited for hot/dry environments since they only open their pores up at night for uptaking CO2 (and otherwise loosing water). Overall the plant only needs a fraction of the water used by a typical C3 plant.
About 40-60% of orchids are CAM capable, but the last I heard, none of these are slippers. Maybe Mexipedium if someone runs the test. Most of the CAM species are either low or strongly seasonal rainfall areas, or species found in tree canopies or otherwise very exposed.
I think all the Cattleya are CAM orchids.
The way this is tested is by using radioactively labeled carbon for CO2 source, and checking C14 concentrations after light and dark exposures.
C3 plants have their pores open during light hours, and use a lot of water in comparison. It is strenuous on these plants to loose a lot of water through the leaves, so it doesn't neccesarily help to add more water to the roots (especially if it is full of inorganic salts).