Vali's Blot is named for Vali, Odin's youngest son, who was born, grew to adulthood in a day, and avenged the murder of his brother, Baldr. Vali actually survived Ragnarok (unlike Odin and Thor) and became the poster of new hope for the Norse culture.
Folk etymology has led to this day being called ‘Feast of Vali’ in modern Asatru. Actually, St. Valentine has no demonstrable associations with Vali, nor to the thinly disguised heathen Lupercalia rites which take place on this day. Nevertheless, many Heathens make blessing to this god at this time.
At the Feast of Vali, we take notice of the wonderful, and actually meaningful, Pagan traditions of yore, which celebrate good fortune, love, fertility, and blessings… including the maintaining of the cosmic order. Vali, in our tradition, fights injustice and creates order out of chaos.