I\'m looking for an algorithm, or at least theory of operation on how you would find similar text in two or more different strings...
Much like the question posed he
You might want to look into the algorithms used by biologists to compare DNA sequences, since they have to cope with many of the same things (chunks may be missing, or have been inserted, or just moved to a different position in the string.
The Smith-Waterman algorithm would be one example that'd probably work fairly well, although it might be too slow for your uses. Might give you a starting point, though.