There is no Eraserl.exe in Eraser 6, which is now the only supported version. Also, there is no connection, and never has been, with Sandboxie, which is outside the scope of this forum. The Eraser 6 CLI is under development; anyone who wishes to use it for production purposes will need to follow subsequent changes rather carefully. But, if you wish to use it, just run 'eraser help', and you will get a list of parameters and switches.
The 'administrator' issue is fully explained in the FAQ (it's a big change for people coming to Vista or Windows 7 from XP).