You write the read value directly to value, while value is actually and array. Try this instead.
void loop()
{
value[0] = EEPROM.read(address);
value[1] = EEPROM.read(address+1);
Serial.print(address);
Serial.print("\t");
Serial.print(value[0]);
Serial.print("\t");
Serial.print(value[1]);
Serial.println();
address=address+2;
if (address==512)
address=0; // not address==0;
delay(500);
}