Not saving: opposite of living, thus giving life eternal.
Also, the word "spade" to me means spade; the word "potato" to me means potato, etc.
Oh, really? How would you know what I meant by saying the word "spade"? Wouldn't you need to know the CONTEXT first to tell if I was talking about a garden tool versus the suit of a playing card? So, too, is the point with this verse so frequently misused by legalists who pervert the gospel of the grace of God and try to make salvation dependent on works and not by grace through faith.
A "dead" faith is a faith that is unfruitful - just as James describes it. Read the entire chapter and you will understand that we are justified before OTHERS by our deeds, but God sees our hearts and He knows if our faith is genuine. A real faith WILL affect a changed heart and the life WILL reflect this internal, spirit new birth. But works will NEVER be a contributing factor in our salvation - it would not be grace if they did.