Yes, he definitely deserves some credit for what he's done in Kerr's absence. The funny thing is that, per NBA rules, Steve Kerr still gets credit for the wins while he's out, and Walton officially gets zero wins as a HC (as he's considered an
interim HC). Just a quirky rule they have in place. He could, conceivably, win coach of the month(s), even coach of the year (if Kerr was out all year, or a vast majority), and have zero wins next to his name...
http://uproxx.com/dimemag/2015/11/luke-walton-wont-get-credit-for-warriors-wins/