How to get a product value attribute from attribute id?

Try this:

$attributeModel = Mage::getModel('eav/entity_attribute')->loadByCode('catalog_product','color');
echo $attributeModel->getStoreLabel($storeId);

If you want to get any attribute value of any product ;

$_product = Mage::getModel('catalog/product')->load($productId);
echo $_product->getData($attributeCode);

Try this

Retrieve product attribute value based on the attribute code

<?php
   $attributeCode = "size";
   $attribute = Mage::getModel('eav/entity_attribute')->loadByCode('catalog_product', $attributeCode);
   $options = Mage::getModel('eav/entity_attribute_source_table')
            ->setAttribute($attribute)
            ->getAllOptions(false);

   foreach ($options as $option) {
        echo $option['label']." => ".$option['value']."<br>";
   }
?>

Retrieve product attribute value based on the attribute id

<?php
  $attributeId = 198;
  $attribute = Mage::getModel('eav/entity_attribute')->load($attributeId);
  $options = Mage::getModel('eav/entity_attribute_source_table')
            ->setAttribute($attribute)
            ->getAllOptions(false);

   foreach ($options as $option) {
        echo $option['label']." => ".$option['value']."<br>";
   }
?>