alias vv="vim -c 'norm! ^O'"
norm execute normal mode command ^O as if you type it. See :help :normal for more information.
^O is one character, you can input it in insert mode by typing <C-V><C-O>. It brings you to last cursor position, which is in the last file you edited.
So the alias above is the same as opening vim and press ...
This happens because history expansion is performed before alias expansion.
You can force history expansion in your alias by using the history command, using command substitution to replace a command that queries the history with its output:
alias vv='$(history -p !vim)'
but this will not handle filenames correctly if they contain characters that might ...