Will it retire any time soon? Given that SAP released the latest SAP BOBI 4.2 just a few months back, I think chances for that are quite slim. At the moment, it seems to be evolving into a bigger analytics platform with every new release.
Moreover, there are many, many big business that have been using BO for their reporting needs for quite a while. It would take them a lot of time, money and effort to completely switch to a new tool. So, provided that the newer tools offer a really good reason - service, support, cost or feature - that SAP BO can't match or at least compete with, they are likely to prefer keeping things the way they are.
Although as a platform it is unlikely to retire at least for the next few years, the importance of various tools in it could vary drastically. With increasing mobile reporting, dashboard style reporting tools seems to be coming to the fore front. Also, tools that support analysis on big data (HANA and Hadoop) too seem to be getting a lot of attention.
However, no tool is invincible. There are some very good competitors in the market from big companies like Microsoft, Oracle and a few others too.
Will it retire eventually? Maybe. There aren't many tools that have been successfully able to keep up with the constantly changing technology. Or maybe it will evolve into something completely different and unrecognizable from what it is now.