The context menu can be accessed by right clicking anywhere in the OE text area. The following screenshot shows the context menu in action.

Online Editor: the context menu.

This particular screenshot shows the context menu for a link called "eZ Publish documentation". In addition to classic commands like "Undo", "Cut", "Copy", etc. it contains specific items that can be used to manipulate the selected/current element. In this case (when working with a link) the "Remove link" and "Link Properties" are displayed.