I've reported this bug, but haven't heard a reply since I submitted the screencast video they requested.
This happens in Flash CC on MacOS X (10.8, 10.9 tested)
The issue: When using the eraser faucet tool to delete overlapping lines, the line or contiguous group next to the target will sometimes vanish. The Undo command will only bring back the intentionally deleted lines, not the ones that vanisheded on their own.
As a result, I can only get back all the overlapping lines I intended to delete, not the drawn object I wanted to keep.
I know this bug dosen't happen in CS3 (after using this tool extensively for a week on an animation project)
http://www.youtube.com/watch?v=AM0Fnz9aFxk
I haven't seen this bug occur on Windows yet, but if people want to try and replicate the bug demonstrated in the attached video, the results might be informative.