Leia e siga Sintaxe: Escape Characters, Delimiters and Quotes :
Using "Double Quotes"
If a single parameter contains spaces, you can still pass it as one item by surrounding in "quotes" - this works well for long filenames.
Aplicado ao seu caso, use:
wscript D:\batchlaunchersyntax.vbs "D:\the batch\batch.bat" 11 "D:\program files\hello world"
Caso contrário, a linha de comando é tokenizada da seguinte forma:
rem ↓ script name
wscript D:\batchlaunchersyntax.vbs D:\the batch\batch.bat 11 D:\program files\hello world
rem oArgs(0) D:\the
rem oArgs(1) batch\batch.bat
rem oArgs(2) 11
rem oArgs(3) D:\program
rem oArgs(4) files\hello
rem oArgs(5) world