Yep, you're right-- the morale bonuses work as advertised.

But I found some interesting wrinkles with valour. It appears that if you want to mod a bldg to increase valour, there are two conditions:

1) The bldg MUST be a TROOP_PRODUCER

2) The valour upgrade will ONLY apply to units that REQUIRE that bldg.

I know that makes sense when you think about the bldgs that normally give valour bonuses (Master Horse, Spear, etc.), but I was intrigued by Wes's mod where he added a valour bonus to the Military Academy-- which I tried to do in my personal mod. But it would only work if I changed it from a NON_PRODUCER to a TROOP_PRODUCER, and then only gave the bonus to JHI (the only unit requiring a Mil Acad).

Next I changed the bonus for a Ribat from morale to valour--it worked, but only for Hashishin (again, only unit requiring a Ribat). Didn't check impact on Jihad-- hmmmm, I'll have to look at that.

For modding purposes, I was looking at having the Military Academy give a valour bonus to any unit constructed in the province but that does not seem to be possible.