Watchdog circuit, maybe something as simple as a 555 timer.
Set up a 555 as a one-shot, the output remains high (or low) for a given duration, and keeps the shift register enabled. For grins, say the duration is 10 seconds.
The Arduino keeps on pulsing and resetting the 555 so the output remains high (or low) for less than that same given duration, again, for grins, say the duration is 5 seconds.
If the Arduino crashes, it won't keep resetting the 555 timer output. 555 timer output goes low (or high) and resets the shift register (within that given duration of 5 or 10 seconds), the valves turn off.