What sucks about this is that 7:55pm is the last flight of the day to YVR. you have like a 90% chance of making it -- 1h40m is plenty of time -- but if you don't you're stuck in Montreal for the night.

If you miss it you should check if the 8pm to YYZ has left. If it's delayed you could try to get on it for an easy YYZ connection. Or even the 9pm. The 9pm would make an illegal 35 minute connection for the last flight out of YYZ to YVR. A 35 minute connection would be doable for a single adult but with a toddler it would be pretty stressful.

When you're checking the bags in MUC see if you can get them to put priority (or SHORT) tags. As long as the MUC flight isn't delayed and the bags come out within 20-30m you should be ok. probably....