Yes, it's a bug. This is the offending part: 
sub shellwords {
    local(@lines) = @_;
    $lines[$#lines] =~ s/\s+$//;
    return(quotewords('\s+', 0, @lines));
}

[download]
The bug is the unrestricted deletion of trailing whitespace - it shouldn't delete whitespace that's preceeded by the right number of backslashes. I'll see if I can come up with a patch later tonight.

Note that that's not the only case where Text::ParseWords and my shell (bash) disagrees. Given the string "foo\'bar", my shell parses that as foo\'bar, while Text::ParseWords turns it into foo'bar.

Abigail

In reply to Re: Parsing strings into @ARGV by Abigail-II
in thread Parsing strings into @ARGV by mirod

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