The height is bigger than the viewport.

If there are toolbars docked at the left or right, the right toolbar is hidden due to larger width. 


You can fix a bit the width by using this code:

<telerik:RadEditor ID="RadEditor1" runat="server" RenderMode="Lightweight" OnClientCommandExecuted="OnClientCommandExecuted">
    <Tools>
        <telerik:EditorToolGroup>
            <telerik:EditorTool Name="AjaxSpellCheck" />
        </telerik:EditorToolGroup>
        <telerik:EditorToolGroup dockingzone="Left">
            <telerik:EditorTool Name="AjaxSpellCheck" />
        </telerik:EditorToolGroup>
        <telerik:EditorToolGroup dockingzone="Right">
            <telerik:EditorTool Name="ToggleScreenMode"></telerik:EditorTool>
        </telerik:EditorToolGroup>
    </Tools>
</telerik:RadEditor>

<script>
    function OnClientCommandExecuted(editor, args) {
        if (args.get_commandName() === "ToggleScreenMode" && editor.isFullScreen()) {
            var editorId = editor.get_id();
            var editorElm = editor.get_element();
            var leftToolbar = $telerik.$(editorElm).find("#" + editorId + "Left.reToolBarWrapper");
            var rightToolbar = $telerik.$(editorElm).find("#" + editorId + "Right.reToolBarWrapper");

            var widthExcess = leftToolbar.width() + rightToolbar.width();

            if (widthExcess) {
                editorElm.style.width = (parseInt(editorElm.style.width) - widthExcess) + "px";
            }
        }
    }
</script>