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Your questions reveal a typo that Valette was not aware of. The third line of the proof of Proposition 3.3.7 should be:$$\pi_n(\text{GL}_\infty(A)) = \pi_{n - 1}(\Omega \text{GL}_\infty(A)) = \pi_{n - 1}(\text{GL}_\infty(SA)),$$where $\Omega X$ is the loop space of $X$. The first equality is a basic property of loop spaces, see e.g. here. The second follows ...