Yes, SALUTING is a Scrabble word!

Letter values in Scrabble US: S 1, A 1, L 1, U 1, T 1, I 1, N 1, G 2.

Is it a valid word?

SALUTING is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

propose a toast to
greet in a friendly way
express commendation of
become noticeable
honor with a military ceremony, as when honoring dead soldiers
recognize with a gesture prescribed by a military regulation; assume a prescribed position