An idea for further progress. In the interest of making progress on this excellent question, let me mention a further idea I had realized. Suppose we aim to show that there can be no $\vec\forall\vec\exists$ characterization of "$f$ is continuous" in structures of the form $\langle\R,+,\cdot,0,1,<,f\rangle$. Suppose that $\forall\vec x\,\exists\vec y\ \varphi(\vec x,\vec y)$ is such a characterization, where $\varphi$ is quantifier-free. My idea begins with the observation that if $f$ is continuous, then for any particular $\vec x$, we can ensure that $\exists \vec y\ \varphi(\vec x,\vec y)$ with at most finitely much of the graph of $f$. Namely, the terms appearing in $\varphi$, when applied iteratively at $\vec x$ and the witnesses $\vec y$. If we consider a finite partial function $p:\R\dashrightarrow\R$, we can say that it fulfills a particular $\vec a$ if there is $\vec b$ such that $\varphi(\vec a,\vec b)^p$, using $p$ to interpret the function symbol.
The main idea now is that any finite partial function is part of a continuous function, and thus any finite partial function can be extended to a larger finite partial function that fulfills any given $\vec a$. In other words, in the forcing to add a function $g:\R\to\R$ with finite conditions, it is dense to fulfill any particular instance $\vec a$. It is also dense to agree more and more with highly discontinuous functions.
In particular, if we force over $V$ to add a generic function $g:\R\to\R$ by finite conditions, then the structure $\langle\R^V,+,\cdot,0,1,<,g\rangle$ will fulfill the property $\forall\vec x\,\exists \vec y\ \varphi(\vec x,\vec y)$, since every instance will be fulfilled. And the generic function will also be discontinuous at every point, since indeed the graph of $g$ will be dense in the plane, surjective from any interval.
Meanwhile, this argument doesn't quite show that the property fails in $V[g]$, however, since $g$ is defined only on the ground model reals $\R^V$, not on the reals of the extension $\R^{V[g]}$. What we would like to be doing instead is adding a generic function $g:\R^{V[g]}\to\R^{V[g]}$ by finite conditions, but this is a more delicate idea, which I haven't fully solved yet.
Alternatively, perhaps we can stay in the ground model and assemble a large compatible family of such finite partial functions to form a total function $f:\R\to\R$ with the $\vec\forall\vec\exists$ property, but discontinuous. We can extend any given finite function to fulfill any particular instance $\vec a$, and we can extend a finite partial function on further points so as to agree more and more with a fixed discontinuous function. Can we find an ultrafilter that somehow combines these ideas to find a sufficiently generic family of partial functions that fulfills the full $\vec\forall\vec\exists$ property while being discontinuous? I'm not sure.