The point of the question was to ask us to judge between the disutility of many people dust specked and a single person tortured, not to place a value on whether 3^^^3 existences is itself a bad or a good thing.
So, kinda of the former interpretation, except that the "3^^^3 people" part is merely the setting that enables the question, not really the point of the question...
EDIT: Btw, since I'm an anti-specker, I tried to calculate an upper bound once, for number of specks... It ended up being about 1.2 * 10^20 dust specks
Surely the incomprehensibly large number is part of the point of the question, otherwise why not use the set of all existing people being dust specked? ~7 billion dustmoted vs. 1 tortured?
3^^^3 people is more sentient mass than could physically fit in our universe.
Edit: Here's how I imagined that playing out: 3^^^3 people are brought into existence, displacing all the matter of the universe. Which, while still momentarily conscious, each gets a mote of this matter in their eye, causing minor discomfort. They then all immediately die, and in the following eternity their bodies and the remainder of the universe collapses to a single point.
"What's the worst that can happen?" goes the optimistic saying. It's probably a bad question to ask anyone with a creative imagination. Let's consider the problem on an individual level: it's not really the worst that can happen, but would nonetheless be fairly bad, if you were horribly tortured for a number of years. This is one of the worse things that can realistically happen to one person in today's world.
What's the least bad, bad thing that can happen? Well, suppose a dust speck floated into your eye and irritated it just a little, for a fraction of a second, barely enough to make you notice before you blink and wipe away the dust speck.
For our next ingredient, we need a large number. Let's use 3^^^3, written in Knuth's up-arrow notation:
3^^^3 is an exponential tower of 3s which is 7,625,597,484,987 layers tall. You start with 1; raise 3 to the power of 1 to get 3; raise 3 to the power of 3 to get 27; raise 3 to the power of 27 to get 7625597484987; raise 3 to the power of 7625597484987 to get a number much larger than the number of atoms in the universe, but which could still be written down in base 10, on 100 square kilometers of paper; then raise 3 to that power; and continue until you've exponentiated 7625597484987 times. That's 3^^^3. It's the smallest simple inconceivably huge number I know.
Now here's the moral dilemma. If neither event is going to happen to you personally, but you still had to choose one or the other:
Would you prefer that one person be horribly tortured for fifty years without hope or rest, or that 3^^^3 people get dust specks in their eyes?
I think the answer is obvious. How about you?