As I read it, the problem is that $temp_token->[1] will never be both 'item' and 'value' at the same time. Anything that passes the while condition can't pass the nested if. Here's one shot at it. I think this is more clear:

if ($item_name eq "Show Link") {
    my @elements;

    while ($temp_token = $p->get_token) {
        last if $temp_token->[0] eq 'E';

        if (($temp_token->[0] eq "S")  && ($temp_token->[1] eq "value"
+)) {
            $temp_token = $p->get_tag("item");
            push @elements, $p->get_trimmed_text('/item');
        }
        $temp_token = $p->get_token;
    }
    $temp_dcr{$dcr_name}{Location} = \@elements;
}
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I may be misreading your logic, but it looks a little easier to me.