I think you're all missing what's really going on here.
The thing that's driving up the price so much when you convert to the package is the 2-day hoppers, not the dining.
You're still getting the AAA discount on your room. The problem is that adding two 2-day MYW tickets with park hopping costs a fortune. The cost of a 2-day MYW ticket with park hopping is $175.73. For two adults, that's $351.46.
That's where the cost of this package is located. If you take your original AAA room rate of $281 and add it to the cost of the tickets, $351, you get $632. Subtracting $632 from the $868 gives you $236 for dining for two adults for three days. That comes out to $39.34, pretty much exactly what it's supposed to be (with tax). So, you're still getting your AAA discount on the room, you're still getting dining for $40/person per day, just like you're supposed to. But you're adding $350 worth of park tickets.
The bottom line here is that 2-day MYW tickets with park hopping are insanely expensive. The reason for this is that the base tickets for short stays are about $60 per day, and then you add a flat $42.60 to add park hopping, no matter how long the ticket. As a result, the 1, 2, and 3 day tickets, if you want park hopping, end up costing upwards of $80 or $90 a day.
Someone says above in this thread that they price 2-day park hopper tickets at $87. Not sure where that comes from, but if you can find that, hop on it. I think that's actually PER DAY. That's less than a 2-day park hopper at
disneyLAND, so I'm not sure where you can find that.