Вы не используете Subfolder
элемент в вашем цикле.
Альтернативное рекурсивное решение ниже:
Set objFso = CreateObject("Scripting.FileSystemObject") Browsefolder objFso.GetFolder("C:\Users\user\Desktop\test") Sub Browsefolder(Folder) For Each Subfolder In Folder.Subfolders Browsefolder Subfolder Next For Each File In Folder.Files sNewFile = File.Name sNewFile = Replace(sNewFile, "ç", "+") If (sNewFile <> File.Name) Then File.Move (File.ParentFolder & "\" & sNewFile) End If Next End Sub