This article explains why the drop down Raster Tools menu may be empty in ArcMap, and how to correct it if it is.
In some cases, right after installing Raster Tools you will see the Raster Tools toolbar in ArcMap, but when you click the drop down menu, the commands will be missing.
In this case, close ArcMap and then restart it. Restarting ArcMap will allow the Raster Tools menu to populate with the commands.
Updated June 17, 2016