Hey Matt,
I was able to replicate the issue with the missing language string and I have already logged this issue into our issue tracker but the recent posts link seems to be working fine for me on my local instance. Is the link not working at all?
By the way, if you want to remove the recent posts link, you may edit the theme file /components/com_easydiscuss/themes/wireframe/toolbar/easyblog.php and remove the codes below at line 20,
[gist]
<li>
<a href="<?php echo EBR::_('index.php?option=com_easyblog');?>"><?php echo JText::_('COM_ES_EB_RECENT_POSTS');?></a>
</li>
[/gist]