Any item that is not specifically listed as "Unsalvageable" is considered Salvageable. Currently, this indicator only affects the Smith talent "Scrap," however, there will be future mechanics that utilize Salvageable items.
"Simply remember, keep a calm mind and foster benevolence. Walk in the light, and let goodness be your shield. Someday, we will all triumph over this chaos and evil and allow peace to flourish, but only if we remain steadfast now. The true test is before us every day."
~Lord Gorn Solcastin to Roland Darkstone, on life in Travance