I'm stuck on 3000 valor for a few months now, with the odd 500 valor drop when I happen to get an upgrade. Is this really intended for the end-game-currency to not be able to spend it? Or do I miss an option there (apart from upgrading random items).
This is typical end of expansion cycle. Used to be with each patch the newest gear was purchased with vp, that has changed and all the old rep gear is jp, with only the shado pan assault being vp purchasable gear. At this point in the game there is nothing to use it for. My guess is that when WoD comes out vp will be dropped to jp not to exceed the maximum allowable amount of jp, which will get you gear in WoD, or you can use it to purchase heirloom items.
But yeah, other than item upgrades, it has no real purpose in this expansion anymore.