That seems a very unusual design, but is a form of poppet-valve.
The regulator is about the least accessible unit on a locomotive, and is normally designed to operate without any lubrication other than water, and virtually no maintenance for the life of the boiler. It is handling wet steam, albeit at high temperature.
As Paul says, oiling the valve risks oil in the boiler, hence priming, but you can’t reach it to oil it anyway. (I wonder how traction-engines manage in that regard, with the cylinder and valve-chest on top of the boiler.)
So why the O-rings anyway, on the photographed physical valve? According to the part of the drawing you show, there should not be any. Or are they off-camera?
Wear will eventually allow some leakage past the valve bobbin, but I think the metal will wear far more slowly than the O-rings. If they are not specified on the drawing, which indicates none on the portion you show – don’t fit them. They could give more trouble than they are worth, and the empty grooves may give a little labrynth-effect sealing.