|A token is effectively how a line is broken up, so:|
a b c d e f
these are tokens. So, if you were to use, say, a for loop and you wanted c (the 3rd token), you'd use this:
For /f "Tokens=3" %i in (<file name>) do <command> %i
Delims are basically the seperator chars, which are, by default, spaces, but you can have them as any, valid ASCII char.
If you post your code, I can give you a hand.