Yes, although admittedly it took forever for us to figure out how to do it.

1. You have to be in annotate mode (with the pencil options) in order to erase the highlighting. You can be in regular mode to make the highlights, but you have to click to get the journal features in order to erase.

2. Don't use the eraser tool down near the pencil - you have to use the eraser that's up next to the highlighter. Click that, then go over* your highlighting.

3. It might seem like it's not working, but if you're anything like us you made a "mess" of the highlighting trying to figure it out in the first place. If you keep going over it, you'll take off one layer at a time of highlighting until it's all gone. It does work, just might take some time if the page thinks it has multiple layers of highlighting.

*I've found that for erasing, you can "scratch out" (like zig-zag up and down lines) the line you want unhighlighted. It sometimes works better over a large area than simply trying to draw a straight line over the highlighting.