Vlad Yeah, I think makes it sense for that to be the case. Upon further testing, I've noticed that icon and text is not possible when compact size is enabled, so I guess that option can be removed for compact size (and obviously the remove from toolbar option only shows up when right clicking a toolbar icon.
In short, I think this issue can be boiled down to more consistency of the "use compact size" option, as it is not shown when right clicking in empty space but is shown when right clicking on a toolbar icon.