Are you trying to create worksheets and exams?
With the
Learning Essentials and Equation Writer you should be able to create them fairly quickly and easily. Learning Essentials 1.5 is a new release. It's a free Office add-in. You'll create the worksheet or test in Word and Learning Essentials, and then you can paste the equations into that worksheet. If you want to ink over an area, just use the ink toolbar in Word.
Give it a try to see if it's what you're trying to do, then post back if you need step by step instructions.