Thanks for your response, Gnome. Right now I have the rootball wrapped in a damp (not wet) terry cloth towel. I will put it back in its pot with the soil it came with. I ordered a bonsai mix and will get it Friday. (I always seem to do things bass ackwards!)
To be clear, you're suggesting that I leave the roots alone, and repot it with the proper mix and place it in a little larger container with good drainage until it gets better. Is this correct?
I really hope I haven't signed its death warrant....
Once again, thanks for your help.