Can you execute other command line programs from the script, like c:\windows\system32\whoami.exe?
I am not familiar with the .hsa extension. I do not believe that it is executable. What .exe processes that file? Do you specify the .exe name in test.cmd or do you rely on program associations to open the .hsa file?
Is that .exe a command line or a GUI program? Does it have any logging command line switches? Or does it log errors to a Windows eventlog?
Standard question: have you tried rebooting?
Is it possible that test.cmd is getting an error somewhere, calling itself? That is; test.cmd calls test.cmd over and over until you run out of memory?