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The Book module doesn't correctly implement "fall back" fonts. Most fonts don't contain most symbols, so if you enter a character not in the current font, most applications will fall back to another font that does contain the character. But that's long been broken in the Book module (t probably never worked):
The workaround is to select the text in the field, change to another font that supports the character, enter the character, then change back to the original font.
The Arial font contains most of the common symbols, including arrows. On Mac, you can use the Font Book and Character Viewer apps to find which fonts contain the desired symbol. But then you have to tediously scroll through the font menu in the Book panel's Type panel to select the font (not all fonts are available in the Type panel):

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