Proposed resolution:

In [string.erase], paragraph 10, change:

Returns: an iterator which points to the element immediately following _last_ prior to the element being erased.

to read

Returns: an iterator which points to the element pointed to by _last_ prior to the other elements being erased.

The string::erase(iterator first, iterator last) is specified to return an element one place beyond the next element after the last one erased. E.g. for the string "abcde", erasing the range ['b'..'d') would yield an iterator for element 'e', while 'd' has not been erased.