Okay, i know people have been angry because of the lack of an eraser tool. What you do is before you start is use the box tool to color the entire screen white. Then write over that like you normally would. If you need to erase just use the pen tool, turn the color white, and draw over what you want to erase. Rate this up so other people can see it.
 "Caribbean Admiral"){kind=icon}
 "Kongregate Avatar Creator"){kind=icon}