I think you want to be careful with this line. Effectively, you are bluff catching on 3 streets with K high. He could easily be betting the flop with suited Aces with bdfd, and then continue on turn and river with those Axhh. So, you're behind some credible bluffs, which isn't great for a bluff catcher. Dunno if this type of bluff is something you'd see in your player pool.
Villain could just be bluffing with his straight draws, in which case you're ahead of his bluffs, but you block some of those. However, I feel like you will have a huge amount of potential bluff catchers in this case (basically any Ax, which you should have just about all suited and offsuit versions of+any small to mid pp+any 8x+low Tx), and you cannot call all of them without being hugely exploitable. If you're calling with all of your hands which beat villain's bluff range (assuming it is only straight draws, so at best Q high), he can value bet 33 for 3 streets, maybe even some Ax hands. On top of that, your specific combo of KQo is one of the worst to call. You block Q high straight draws, as well as backdoor clubs and heart FD. Of all KQ to bluff catch with, KQss is the best, and any with a heart (esp. Qh) isn't quite so great, as the Qh and Jh are the cards you most want villain to have.
Then, the next consideration is villain's value range, which isn't quite well defined. I think this is a good aspect of your reasoning here. I think T8s, and maybe T8o as well. 88 and 22 as well, but that's only 4 combos. T2s is credible, but that's only 2 combos. Then, there may be a few 2x in his range which he raised flop with. Maybe A2s (even A2o), maybe also 32s, 42s, 52s, 62s. There aren't many combos of those, and I imagine most villains won't be calling those pre or raising flop with them, so I'd heavily discount those. That leaves a decent amount of Tx. I'd imagine he's calling all of those offsuit versions down to T9o pre. Can't see him going for 3 streets of value with less than KT, but probably not less than AT. So, I feel like when bluff catching, you would prefer to have a hand which blocks some value bets (e.g. 8x blocking 2 pairs, Ax blocking AT and A2) and/or unblocks some bluffs (you don't want a h, don't want in this order 9>J>Q>7>6).
Overall, I feel like you will have so many better bluff catching hands in your range that even if villain's range is too bluff heavy, your calling range will be too wide. Basically, all your pp 33-77 (maybe even 99), all your Ax which don't have a heart, then all your Ax which have one heart, then all your KQ which don't have a heart, then all your KhQx (not heart for the queen). Effectively, I think you'll be looking at having over 100 better calling combos here.
Overall, I like the idea of calling down light when villain is repping such a small value range and could have such a wide variety of hands which might want to bluff, esp otr, but I feel like you will have so many better hands to call with. You may have got it right this time (or not), but I don't think this will be a profitable long term play. Especially if villains at the table made notes about this hand.
