That's right, just like in patch 5.2, you will get to keep hold of your hard-earned valor despite the fact that there is a new raid coming. While there's no valor gear coming in patch 5.4 as such, you can use the valor to upgrade existing or new gear drops, so as Ghostcrawler said in his recent interview with Twizzcast, "Players who want to stockpile their 3,000 Valor before Patch 5.4 hits will be able to do that, and probably should start thinking about that".
It will be interesting to see how the absence of valor gear works out. Of course, there was a time when badge gear didn't exist at all, and players were at the mercy of the RNG gods, but we have become accustomed to it, and it's all well and good being able to upgrade gear, as long as you can get that gear in the first place.
Filed under: Mists of Pandaria