It is the 'seal', which is the 'Valve cup', that needs to be removed with disc brakes, the 'Valve body' should remain in place.
From the BMC Manual - the valve cup is there so that
'a small pressure of approximately 8 lb/sq. in. is maintained in the pipe-lines to ensure that the cups of the wheel cylinders are kept expanded'. With disc brakes this residual pressure is enough to keep the pads in light contact with the disc, which generates a lot of heat and wears them out prematurely. That is why it needs to be removed!
For clarity:
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