A family of Microsoft word processing software products for creating web, email, and print documents.
I had the same problem in MS Word on my iPad and just resolved it. I closed the Word document I was viewing (an older file I have used previously) and then created a new blank document on my iPad. When I did so the eraser device showed up on a new Draw toolbar. I closed the new file and reopened the same older document and the new toolbar appeared (including the eraser, an "ink to text" tool, 3 pens, 1 pencil, and 1 highlighter. It seems to be working correctly now so apparently I caused some sort of update to occur in the software?