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Unfortunately, Microsoft removed this from the menu to “reduce clutter” and there is no easy way to add AutoCorrect. You could make a macro and add a VB script that accesses the menu but I’m not sure of the correct syntax.
You’ll have to jump through a couple hoops this time around unless enough people complain until it makes an appearance in an update. To access AutoCorrect click File > Options > Proofing (from the menu on the left) > AutoCorrect Options... button.
Fun fact: if you’re using the Outlook application (not the on demand version) you can access AutoCorrect fairly quickly. Press [F7] to bring up the spell check the Alt+O followed by Alt+A to access AutoCorrect for Outlook. Changes made in either application will apply to both.