I'm curious about this metric and what the intent is. Presumably there is an expectation that testing (validation) effort should not exceed the development effort by said percentage.
In stating this, it appears there are some presumptions being made around the efficacy of certain aspects of the development process. It also appears that some assumptions are being made about the quality of the product delivered for validation.
It is not uncommon for anamalous behavior to take a fairly significant time to identify, track, recreate then explain/advocate to the rest of the group. A not un-natural reaction on the part of software development is to write the behavior off as "user" or tester) error. This takes greater time and effort on the part of testing to gather evidence to explain the business impact and impact to users/customers. If the code change (fix) is small, it is entirely possible to expend a massive amount of time recreating the scenario to exercise the fix.
In short, when you state "Validation effort should be no greater than 40%* of the Application Development effort" - What happens if it is?
Pete