Drive by code review, you can end a line with the pipe (also && and ||) to avoid a backslash.

    some_command |
      grep -E 'some.*regex$' |
      sed -e 's/erase_text//g' |
      sed -e 's/erase_more//g' |
      awk '{ print $2 }' |
      cut -d ':' -f 1