If I understand your problem, you want to find a set of non-overlapping common substrings of two given strings that either maximizes the total length of the common substrings and among those minimizes the number of common substrings. I will propose the following heuristic: find the longest common substring (LCS) of the two strings, remove it, repeat. I can't prove this is optimal, but I have a very efficient algorithm for it
So in your example
AAACDDFFFEE1122VV1VAADD
DDFFAA11221DHHVV1VAAFE
LCS = VV1VAA
AAACDDFFFEE1122DD
DDFFAA11221DHHFE
LCS = DDFF
AAACFEE1122DD
AA11221DHHFE
LCS = 1122
AAACFEEDD
AADHHFE
and so forth
The algorithm is as follows
1)Use the standard LCS algorithm based on suffix trees which is
1.1 build the suffix trees of the two strings concatenated and with unique terminators
1.2 mark every node with 1,2 or both depending whether the subtree rooted there has leaves from either or both strings
1.3 compute the string-depth of every node
1.4 find the string-deepest node that is labeled both 1 and 2
2) remove the subtree rooted at that node, and update the labels of nodes above it
3) repeat from 1.4
the algorithm terminates when the tree has no nodes that are labeled both 1 and 2
1.1 can be done in time proportional to the sum of the length of the two strings
1.2, 1.3 and 1.4 are little more than tree traversals
2 the removal should be constant time if the tree is implemented right and the update is bounded by the length of the LCS
3 is again a tree traversal but of a smaller tree
So this is one optimization, to avoid repeated tree traversals let's add step 1.35: sort internal nodes that have both labels by string depth (in a separate data structure, the tree is still there). Now you can scan that sorted list of nodes, perform 2) and repeat. With this optimization and if you can use radix sorting, it looks like the algorithm is linear time, and you can't beat that in an asymptotic sense.
I hope this is correct and clear enough, I am sure you will need to familiarize yourself with the suffix tree literature a little bit before it sounds obvious. I recommend Dan Gusfield's book Algorithms on String, Trees and Sequences, the section in particular is 7.4 Let me know if you have questions.