Yes, when u illuminate the armour (transform it from non-valour to valour item) it will keep all the runes,bezels and symbols.
However the armour will still remain non-transferable.
If u go and talk with the NPC from Lumirya you will have the warning before making any change:
Attention! When illuminating or extinguishig any Artful item all its parameters (exchangeability/nonexchangeability, runes, charm, etc.) stay unchanged!
Good luck!