Yes the free body moves outward, but there are two critical things you have to know to interpret this statement correctly.
First, this is the effective potential, taking into account gravity and centrifugal force. It has this form because we went into the non-inertial frame co-rotating with the two masses. Mathematically, the potential is
$$ \Phi_\mathrm{eff}(\vec{r}) = -G \left(\underbrace{\frac{M_1}{\lvert \vec{r}-\vec{r}_1 \rvert}}_\text{potential from mass 1} + \underbrace{\frac{M_2}{\lvert \vec{r}-\vec{r}_2 \rvert}}_\text{potential from mass 2} + \underbrace{\frac{M_1+M_2}{2\lvert \vec{r}_1-\vec{r}_2 \rvert^3} \lvert \vec{r} \rvert^2}_\text{centrifugal component}\right), $$
and it only decreases far away because of that last term.
Physically, this is because placing an object "at rest" in this frame corresponds to having it move with the same angular frequency as $M_1$ and $M_2$ about the center of mass. If you initialize an object $5\ \mathrm{AU}$ on a tangential path having the same angular velocity as the Earth, it will be moving too fast for a circular orbit at that distance, and so it will move away from the Sun.
This does not mean the object will go away forever, and that brings us to the second point, explained in Chay's response: Not all effective forces have been accounted for; in particular, the Coriolis force does not arise from $\Phi_\mathrm{eff}$. The Coriolis force depends on velocity, so it has no scalar potential depending solely on position, and so it is not included in the analysis so far. Once your test object starts moving in your rotating frame, it will experience a perpendicular deflection that will eventually force it to turn around.