The Collaborative International Dictionary of English v.0.48:

Valor \Val"or\, n. [OE. valour, OF. valor, valur, valour, F.
   valeur, LL. valor, fr. L. valere to be strong, or worth. See
   Valiant.] [Written also valour.]
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   1. Value; worth. [Obs.] "The valor of a penny." --Sir T.
      More.
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   2. Strength of mind in regard to danger; that quality which
      enables a man to encounter danger with firmness; personal
      bravery; courage; prowess; intrepidity.
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            For contemplation he and valor formed. --Milton.
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            When valor preys on reason,
            It eats the sword it fights with.     --Shak.
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            Fear to do base, unworthy things is valor. --B.
                                                  Jonson.
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   3. A brave man; a man of valor. [R.] --Ld. Lytton.
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   Syn: Courage; heroism; bravery; gallantry; boldness;
        fearlessness. See Courage, and Heroism.
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WordNet (r) 3.0 (2006):

valour
    n 1: the qualities of a hero or heroine; exceptional or heroic
         courage when facing danger (especially in battle); "he
         showed great heroism in battle"; "he received a medal for
         valor" [syn: heroism, gallantry, valor, valour,
         valorousness, valiance, valiancy]