It's a better try than you think as it is working correctly 
I think that you are making the mistake of assuming that array subscripts start at 1 - they don't, they start at 0.
Here is the code again with the proof that I used to check the array before I posted it:
Code:
$='KiXscripting is fun!'
Dim $y[(0^$)-1]
For $z=1 to 0^$
$y[$z-1]=SubStr($,$z,1)
Next
For Each $ in $y
"'"+$+"'" ?
Next
Exit 0
Try the proof on your code and you will find an additional blank element.
