In a new blog post on the Star Wars: The Old Republic site, Executive Producer Jeff Hickman addresses whether or not Bioware will enact a wholesale valor rollback after the disastrous events on Ilium following the deployment of the v1.1 patch. In a word, NO, there will not be a general rollback of valor gained this week.
However, Hickman did state that the Bioware team will be looking carefully at those players who took blatant advantage of the exploit in order to artificially ramp up their acquisition of valor.
I can reassure you that those who were involved and who gained an unfair advantage over other players inappropriately will be carefully reviewed and action will be taken to restore game balance. This could include Valor adjustments or account actions in accordance with the severity of the issue.
Read the full post on the Star Wars: The Old Republic site.