Yes Of Course:

Valentine's Day is a great
chance to celebrate the people you love.
 Even though our culture largely
 focuses on romantic love, there's not reason
 why people can't also celebrate
the love between friends and family on this day.
 And if you do have a romantic relationship,
 why not celebrate it? It's an excuse to be romantic!

No, Valentines should not be celebrated.

Love isn't something that is based on time.
You can always show or never show love.
 It should not be based on a day
where people are asked to buy
things and do things to "prove their love".
 Just because a man does not buy
 his wife flowers on February 14th,
 does not mean that this woman
whom he has been married
 to for forty years, he suddenly does not love.