Just to break it up a little, YAPE::Regex::Explain produces this:
The regular expression:
(?-imsx:(?:([^"\s]+)|\s+|("[^"\\]*(?:\\.[^"\\]*)*"))+)
matches as follows:
NODE EXPLANATION
----------------------------------------------------------------------
(?-imsx: group, but do not capture (case-sensitive)
(with ^ and $ matching normally) (with . not
matching \n) (matching whitespace and #
normally):
----------------------------------------------------------------------
(?: group, but do not capture (1 or more times
(matching the most amount possible)):
----------------------------------------------------------------------
( group and capture to \1:
----------------------------------------------------------------------
[^"\s]+ any character except: '"', whitespace
(\n, \r, \t, \f, and " ") (1 or more
times (matching the most amount
possible))
----------------------------------------------------------------------
) end of \1
----------------------------------------------------------------------
| OR
----------------------------------------------------------------------
\s+ whitespace (\n, \r, \t, \f, and " ") (1
or more times (matching the most amount
possible))
----------------------------------------------------------------------
| OR
----------------------------------------------------------------------
( group and capture to \2:
----------------------------------------------------------------------
" '"'
----------------------------------------------------------------------
[^"\\]* any character except: '"', '\\' (0 or
more times (matching the most amount
possible))
----------------------------------------------------------------------
(?: group, but do not capture (0 or more
times (matching the most amount
possible)):
----------------------------------------------------------------------
\\ '\'
----------------------------------------------------------------------
. any character except \n
----------------------------------------------------------------------
[^"\\]* any character except: '"', '\\' (0
or more times (matching the most
amount possible))
----------------------------------------------------------------------
)* end of grouping
----------------------------------------------------------------------
" '"'
----------------------------------------------------------------------
) end of \2
----------------------------------------------------------------------
)+ end of grouping
----------------------------------------------------------------------
) end of grouping
----------------------------------------------------------------------
|