[SNIP]C:\Users\My Name\Code\boost_1_55_0\tools\build\v2\engine>.\bootstrap\jam0 -f build.jam --toolset=vc11 "--toolset-root=C:\Program Files (x86)\Microsoft Visual Studio 11.0\Common7\Tools\..\..\VC\ "...found 159 targets......updating 3 targets...[MKDIR] bin.ntx86'C:\Users\My' is not recognized as an internal or external command,operable program or batch file.md "bin.ntx86"[SNIP]
Looks like it could be an issue with spaces in the path. Have you tried somewhere without spaces?