Was it nominated? If it wasn't, it probably will be nominated for 2005. I watched the highlights of 2003 Monday and KotOR won for best fantasy game and as I recall, HK-47 won for best video game character and KotOR was also nominated for game of the year. Of course, I could be confusing some awards, but if I didn't, then it's unlikely that KotOR 2 would be ignored.
Anyways, we'll find out next year. If it's not elligible for the X-Box games, it'll be elligible for the PC games.