It's a "valid" Bitcoin address... but the private key for that address is not in the wallet.dat that is currently loaded by Bitcoin-QT.
Instead, that is an address that has been added to the "Address Book"
If the private key was available, you would see something like this:
If it was just a random address, you would see output like this:
Once it has been added to the "address book":
It will have an "account" value displayed when you use
validateaddress:
Unfortunately, it appears you are chasing shadows with this wallet.dat... the $1.7mil worth of BTC is not in this wallet.dat