Yes, validators will be considered.
This forum post lays out the details for GNO Token holders with regards to their CoW airdrop eligibility:
For GNO Token holders the snapshot will be taken on January 9th. GNO holdings on Ethereum as well as Gnosis Chain will be eligible for the airdrop. If you want to participate in the potential airdrop of COW Tokens, you must swap your STAKE on January 9th at the latest (you have time until January 9th midnight UTC). All GBC validators will be eligible, as well as the following LP Token holders:
- Balancer v2 (Mainnet)
- Uniswap v3 (Mainnet)
- SushiSwap (Mainnet)
- HoneySwap (GnosisChain)
- Symmetric (GnosisChain)
- Swapr (GnosisChain)
- Elk (GnosisChain)
- SushiSwap (GnosisChain)