Is religion going extinct?

No. Never. Religion is strong and well.

Not by a long shot. There are some religions throughout the world, and some are gaining in numbers.

I don't think it will disappear, but it will "evolve." 

Unlikely:

Religion is a cultural system of behaviors and practices, world views, sacred texts, holy places, ethics, and societal organisation that relate humanity to what an anthropologist has called "an order of existence."

(Wikipedia)

Well, religion isn't one thing. Parts of religion may slowly fade as human science and technology is ever-advancing. Me, I am an atheist, but over half of the world has at least a religion of some kind. Scientists all over the world have at least at some point tried to disprove god. I don't belive in god, but its impossible to DISprove god. No one has proved their exsistance, and I doubt they will, but I can't prove they don't. Just the same you can't disprove alien life.

Factors regarding the reduction of religious beliefs depends upon the number children produced by the Theists versus the number children produced by the Atheists and Agnostics.

Then certain ratios regarding Indoctrination and segregation from secular establishments needs to be considered. The number of technological and Scientific advancements made that could sway those semi-free thinking next generation theists as well.

If religion starts to "fade" it will do so kicking and screaming with parents home schooling and sending children directly to Christian colleges . . .

I can picture it being a lot like the Mormons in having a smaller foot print (state) in our nation at the most . . .

Even some older religions still have believers  . . . Praying to Osiris and Zeus.

Nope. Religion is not going extinct. Religion is spreading a lot faster than atheism and the world is mostly dominated by religion.