Hi
What is "REV"?
It's REVS (REV is some other coin).
It's a SuperNET Asset that was distributed to BTCD holders during a snapshot. Currently it isn't trading on any market.
Guys have you determined the time frame for REVS to be distributed or Is it automatically distributed or swapped when the 1-year swapping time elapsed?
It has already been distributed. Distribution was based off of BTCD holdings during a snapshot, 1 week into the ICO. To claim REVS you need to import BTCD key.
Is there a wallet for REVS to validate my priv key from BTCD?
You use the Agama wallet. Here is instructions how to do it.
https://supernet.org/en/resources/guides/the-grandmas-guide-to-agama Once you import private key , launch REVS in basilisk mode and you should see you balance.