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What is it? I don't know. I think it's communication skills, the ability to see the big picture, staying abreast of new technologies, and learning quickly. Plus, the ability to dive into new technologies and leave your comfort zone -- leave the old technologies behind.

But who am I to answer a question like this. I'm not an architect. Yet. :-) It's something I'm preparing myself for.

Anyway, this question, "what is the most valuable IT architecture skill?," was answered by some distinguished IBM architects, Grady Booch being one of them. It's a very good article.

Reference
What is the most valuable IT architecture skill and how can you learn it?,
developerWorks