Yes, Text::Balanced will work (and it is a core module since 5.7.3).

Code: 

#!/usr/bin/env perl

use strict;
use warnings;

use Text::Balanced qw/
    extract_multiple
    extract_quotelike
/;

my @data = (
q{50 0 "R0 G255 B0 A255" "Solid" 118 1 "R0 G0 B0 A255" "R0 G0 B0 A255"
+ 0},
q{70 0 "R0 G255 B255 A255" "Solid" 118 1 "R12 G12 B12 A255" "R12 G12 B
+12 A255" 0},
);

my @extracted;
foreach my $str (@data) {
    @extracted =
      extract_multiple( $str, [ \&extract_quotelike, ], );
    print q{Input:  }, $str, qq{\n};
    print q{Output: }, qq{\n};
    print qq{\t};
    print join qq{\n\t},
      grep { !(m/^\s*$/) and length $_ > 0 } @extracted;
    print qq{\n};
}

[download]

Output: 

Input:  50 0 "R0 G255 B0 A255" "Solid" 118 1 "R0 G0 B0 A255" "R0 G0 B0
+ A255" 0
Output:
        50 0
        "R0 G255 B0 A255"
        "Solid"
         118 1
        "R0 G0 B0 A255"
        "R0 G0 B0 A255"
         0
Input:  70 0 "R0 G255 B255 A255" "Solid" 118 1 "R12 G12 B12 A255" "R12
+ G12 B12 A255" 0
Output:
        70 0
        "R0 G255 B255 A255"
        "Solid"
         118 1
        "R12 G12 B12 A255"
        "R12 G12 B12 A255"
         0

[download]

Hope that helps.

In reply to Re^3: Extract delimited words from string by atcroft
in thread Extract delimited words from string by Anonymous Monk

Title:
Use:  <p> text here (a paragraph) </p>
and:  <code> code here </code>
to format your post, it's "PerlMonks-approved HTML":


  • Posts are HTML formatted. Put <p> </p> tags around your paragraphs. Put <code> </code> tags around your code and data!
  • Titles consisting of a single word are discouraged, and in most cases are disallowed outright.
  • Read Where should I post X? if you're not absolutely sure you're posting in the right place.
  • Please read these before you post! —
  • Posts may use any of the Perl Monks Approved HTML tags:
    a, abbr, b, big, blockquote, br, caption, center, col, colgroup, dd, del, details, div, dl, dt, em, font, h1, h2, h3, h4, h5, h6, hr, i, ins, li, ol, p, pre, readmore, small, span, spoiler, strike, strong, sub, summary, sup, table, tbody, td, tfoot, th, thead, tr, tt, u, ul, wbr
  • You may need to use entities for some characters, as follows. (Exception: Within code tags, you can put the characters literally.)
            For:     Use:
    & &amp;
    < &lt;
    > &gt;
    [ &#91;
    ] &#93;
  • Link using PerlMonks shortcuts! What shortcuts can I use for linking?
  • See Writeup Formatting Tips and other pages linked from there for more info.