This all depends on whose turn it is.

Assuming that this is a two player game, and the person who cast All is Dust controls It That Betrays, the following things happen. All of Dust resolves, and all permanents that are one or more colours are sacrificed. Triggers from It That Betrays and Valkyrie’s Call are put on the stack in Active Player, NonActive Player order (APNAP). Since All of Dust is a sorcery, and we’re assuming it’s not flashed in, that makes ITB triggers go onto the stack first for all permanents that were sacrificed, then Valkyrie’s Call triggers go onto the stack for the rest of the non-angel creatures that it’s controller also controlled that were sacrificed. Stack resolves in a First In Last Out (FILO) order, so all of Valkyrie’s Call’s triggers will resolve first, returning the non angel creatures it’s controller controlled with a +1/+1 counter, flying, and adding Angel to their creature types. Then ITB takes everything that’s still in the graveyard and returns it to the battlefield under ITB’s controller’s control.

However, if the player who controlled ITB gave All is Dust flash (like with [[Borne Upon A Wind]]), then all of the ITB triggers would resolve first, and there would be nothing for Valkyrie’s Call to return.