Rubbed out cryptic editor's selection (4)
I believe the answer is:
iced
'rubbed out' is the definition.
(I've seen this in another clue)
I don't understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for iced that I've seen before include "Made very cold" , "Frosted over" , "Decorated; killed" , "Kept cool" , "What cake might be" .)