Zero-fill numbers to 2 digits with sed

Another solution: awk '{$2 = sprintf("%02d", $2); print}'

$ sed 's/\<[0-9]\>/0&/' ./infile
201103 01 /mnt/hdd/PUB/SOMETHING
201102 07 /mnt/hdd/PUB/SOMETH ING
201103 11 /mnt/hdd/PUB/SO METHING
201104 03 /mnt/hdd/PUB/SOMET HING
201106 01 /mnt/hdd/PUB/SOMETHI NG

Here is a (non-sed) way to use bash with extended regex..
This method, allows scope to do more complex processing of individual lines. (ie. more than just regex substitutions)

while IFS= read -r line ; do
    if [[ "$line" =~ ^(.+\ )([0-9]\ .+)$ ]]  
    then echo "${BASH_REMATCH[1]}0${BASH_REMATCH[2]}" 
    else echo "$line"
    fi
done <<EOF
201103 1 /mnt/hdd/PUB/SOMETHING
201102 7 /mnt/hdd/PUB/SOMETH ING
201103 11 /mnt/hdd/PUB/SO METHING
201104 3 /mnt/hdd/PUB/SOMET HING
201106 1 /mnt/hdd/PUB/SOMETHI NG
EOF

output:

201103 01 /mnt/hdd/PUB/SOMETHING
201102 07 /mnt/hdd/PUB/SOMETH ING
201103 11 /mnt/hdd/PUB/SO METHING
201104 03 /mnt/hdd/PUB/SOMET HING
201106 01 /mnt/hdd/PUB/SOMETHI NG