... a bug with the module.

The behavior you're seeing is due to confusion between the  // used to delimit the regex and a  / used within the regex. IIRC, Regexp::Common mungs the regex operators | uses the tie-ed hash %RE to support things like  -delim and  -keep and so forth, and apparently the delimiter confusion is passed over silently as a result. "Properly" delimited regexes don't have this problem:

c:\@Work\Perl\monks>perl -wMstrict -le
"use Regexp::Common qw[ delimited ];
 my $P1 = '../matrix-ops/matopmul.mk';
 my $P2 = 'C:\matrix-ops\matopmul.mk';
 print \"P1 has path\n\" if ($P1 =~ /$RE{delimited}{-delim => '\/'}/ )
+;
 print \"P2 has path\n\" if ($P2 =~ /$RE{delimited}{-delim => '\/'}/ )
+;
"
P1 has path

c:\@Work\Perl\monks>perl -wMstrict -le
"use Regexp::Common qw[ delimited ];
 my $P1 = '../matrix-ops/matopmul.mk';
 my $P2 = 'C:\matrix-ops\matopmul.mk';
 print \"P1 has path\n\" if ($P1 =~ m{$RE{delimited}{-delim => '\/'}} 
+);
 print \"P2 has path\n\" if ($P2 =~ m{$RE{delimited}{-delim => '\/'}} 
+);
"
P1 has path

P2 has path
[download]

What I have for $Regexp::Common::VERSION and $Regexp::Common::delimited::VERSION are 2011121001 and 2010010201, respectively, so what I have installed is a bit old. Same results under both ActiveState 5.8.9 and Strawberry 5.14.4.1.

I don't know if this behavior constitutes a bug in the module or not, but in regexes in general, if a character that's used to delimit the regex appears unescaped within the regex, that's a problem:

c:\@Work\Perl\monks>perl -wMstrict -le
"print 'match' if '/' =~ ///;
"
syntax error at -e line 1, near "/;"
Execution of -e aborted due to compilation errors.

c:\@Work\Perl\monks>perl -wMstrict -le
"print 'match' if '/' =~ /\//;
"
match
[download]

(And BTW: I'm not sure how the presence of a delimited sequence or subsequence signifies a "path"; there may be some semantic confusion here.)

Update 1: If you're interested in more readable regexes, do yourself a huge favor and investigate the  /x regex modifier.

Update 2: Fixed small, cosmetic-only formatting glitch in first two code examples.

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