Seems to work fine for me:

  DB<1> use HTML::LinkExtor

  DB<2> p $HTML::LinkExtor::VERSION
1.33
  DB<3> $s = '<a href=http://rds.yahoo.com/S=10341:D1/CS=10341/SS=5374
+4154/SIG=112eblhep/*http%3A//www.beltbuckleshop.com/>'

  DB<4> $e = HTML::LinkExtor->new

  DB<5> $e->parse($s)

  DB<6> x $e->links
0  ARRAY(0x84a3f78)
   0  'a'
   1  'href'
   2  'http://rds.yahoo.com/S=10341:D1/CS=10341/SS=53744154/SIG=112ebl
+hep/*http%3A//www.beltbuckleshop.com/'
[download]

...as expected.