If you create a BP validator it will not function until you reboot the editor.
I believe this is because BP validators are only loaded in UEditorValidatorSubsystem::RegisterBlueprintValidators() which is called only via UEditorValidatorSubsystem::Initialize(FSubsystemCollectionBase& Collection).
Would be great if BP validators were added to the validation system on creation to save content creators from thinking their validator isn’t working to only have it ‘just work’ after a reboot.
Still doesn’t work without reboot for me in 5.8.1 if I create it as a regular Blueprint, which I know I probably shouldn’t do in the first place, but some other classes like Editor Utility Actor or Editor Utility Object are getting automatically converted to Editor Utility Blueprints if I do so, yet Editor Validators and some other classes (EU Widgets, EU Tasks) are not. This isn’t a huge problem, but it is somewhat inconsistent.