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I have absolutely zero textual basis for this, but I've alwayls liked to think that, amongst the things that Gandalf did in his "last journey" (between when he parted from the Hobbits in Bree and showed up at the Grey Havens) was to have a meeting with Radagast again and to basically hand over to him what little authority over Middle earth would be left in the Fourth age to come (Even with the Elves leaving en masse and the upcoming age to be one dominated by the race that was not at all bound to the music, I tend to think the Valar (at least, the kindlier Valar) would not wholly abandon Middle earth from thier eye. Five wizards were sent to directly encourage and exort the peoples of ME to restist Sauron's influence. It does not seem unreasonable to assume that one small one might be left to simply keep an eye on things) The fact that Radagast is permitted to stay is in my mind a sort of base for this. True, in straying from the path set him, Radagast had lost the right to return to the west in ease and triumph, as Gandalf had, but if he had truly screwed up to the point that he was considered a danger to ME in and of himself, or the Valar were wholly abandoning ME to it's own devices, you'd think Gandalf whould have forced him to leave, (It is my opinion that, when Gandalf cast Saruman out of the order, he ipso facto took over leadership of it, so he might have had the authority to force Radagast to leave ME if he so chose.) Plus Yavanna's dear Entish children were still in ME, and she might very well feel better knowing her chosen champion was still around to protect them from now rather unbound men with thier sharp axes and wood hunger.
As for the Two Blue Wizards that's a little more ambiguos. Tolkein certinly says he fears they failed, but in Tolkien's mind, so had Radagast (i.e. "failure" and "turned evil" do not neccecarily equate) Perhaps, had The Return of the Shadow been completed (and they actually had turned evil), we would have heard of them again, perhaps when The Mouth of Sauron rode out, there would also have rode out again a great army from the East (or was it the South?) "led by two who were robed in blue" (Actually that could be another reason Radagast was left, if the Two Blue wizards had turned evil but were still alive, there was always the possiblity that they might come back and try and do again what Saruman had tried to do (i.e. conqer and rule), so ME needed a wizard who was still on the side of "good", and who better to stand against the two sent by Orome the Huntsman (since the wizards seem to share some common characteristics with the Valar who sent them) than he who loved above all things the beasts and birds?)
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