Revered figure penning line with series of postings? That's valuable material (4,6)
I believe the answer is:
'valuable material' is the definition.
(material used in embroidery)
'revered figure penning line with series of postings?' is the wordplay.
'revered figure' becomes 'God'.
'penning' means one lot of letters goes inside another.
'line' becomes 'l' (used when specifying particular lines from a poem).
'with' says to put letters next to each other.
'series of postings?' becomes 'thread' (eg a thread on an online forum).
'god' placed around 'l' is 'gold'.
'that's' acts as a link.