Current scenario

According to the document, How to use the new toolbar and insert elements, users should now be able to select where the toolbar should be displayed.

Either fixed at the top of your page or only when you select a text.

However, the "Undo" and "Redo" buttons have been moved to the "More actions"(three dots) menu.

Suggested solution

Bring back the Undo and Redo buttons to the cloud editor toolbar.

Workarounds

"Undo" and "Redo" buttons available in the overflow menu