Hi
Please do not bump Your own question. Every bump changes the time of last activity and moves Your question to the end of the line.
Which edit option You have in mind ? Is it a regular joomla article or K2 items ? When You'll answer that than I'll be able to see what needs to be done in order to bring it back.
Button has been removed for those elements. For modules button is only active is a regular module style was used. I do not advice changing module style options since it may destroy template layout.