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Important note: DYNAMIC was intended for unattended servers. In my opinion it should NEVER be used in a production OLTP environment for exactly the problem the OP has encountered. I recommend to my clients to always set VP_MEMORY_CACHE_KB to STATIC mode. The VPCACHE central pool will still increase in size when needed and so may add a segment, however, since each CPU VP will be limited as to how much memory it can retain and so will return any excess memory that it needed for a given query to the central pool, you will not see the aggressive sucking up of memory that DYNAMIC causes.
I would also note that onmode -F does not free that memory because it has been assigned to the VPCLASS pool and so is not technically unused. I agree that there should be a way to release some of that memory back for more general use which might allow onmode -F to free a segment.