The headword is present participle, masculine nominative singular, of the verb kroai/nw. Same glossing in other lexica, and cf. a scholion on Homer, Iliad 6.507 (= 15.264), where it is used of a horse in a simile (web address 1, and quoted under alpha 935).
According to Aristonicus, Archilochus was wrong to interpret kroai/nwn as "desiring" (but the verb does not appear among the fragments of the poet Archilochus). Apollonius the Sophist offers both interpretations as alternatives.
The participle also occurs in an Anacreontic fragment (West 60.6), where the context is musical ("striking up a melody").