1. If you want to edit the value of a table cell, you must set a TableCellEditor.
  2. You should create a single JRadioButton in your renderer and reuse it everywhere, that is the purpose of TableCellRenderer.
  3. If you are not calling super.getTableCellRendererComponent, it is not need to extend DefaultTableCellRenderer, simply implement TableCellRenderer.

Consider reading the JTable tutorial to understand better the concepts of renderers and editors.

EDIT:

Here is an example on how you can make this work. Of course, you'll have to adapt to your model but you should get the gist:

import java.awt.BorderLayout;
import java.awt.Component;
import java.awt.event.ActionEvent;
import java.awt.event.ActionListener;
import java.beans.PropertyChangeEvent;
import java.beans.PropertyChangeListener;
import java.beans.PropertyChangeSupport;
import java.util.ArrayList;
import java.util.List;

import javax.swing.AbstractCellEditor;
import javax.swing.JFrame;
import javax.swing.JRadioButton;
import javax.swing.JScrollPane;
import javax.swing.JTable;
import javax.swing.SwingUtilities;
import javax.swing.UIManager;
import javax.swing.UnsupportedLookAndFeelException;
import javax.swing.table.AbstractTableModel;
import javax.swing.table.TableCellEditor;
import javax.swing.table.TableCellRenderer;
import javax.swing.table.TableColumn;

public class TestTable {

    public class RadioButtonCellEditorRenderer extends AbstractCellEditor implements TableCellRenderer, TableCellEditor, ActionListener {

        private JRadioButton radioButton;

        public RadioButtonCellEditorRenderer() {
            this.radioButton = new JRadioButton();
            radioButton.addActionListener(this);
            radioButton.setOpaque(false);
        }

        @Override
        public Component getTableCellRendererComponent(JTable table, Object value, boolean isSelected, boolean hasFocus, int row, int column) {
            radioButton.setSelected(Boolean.TRUE.equals(value));
            return radioButton;
        }

        @Override
        public Component getTableCellEditorComponent(JTable table, Object value, boolean isSelected, int row, int column) {
            radioButton.setSelected(Boolean.TRUE.equals(value));
            return radioButton;
        }

        @Override
        public void actionPerformed(ActionEvent e) {
            stopCellEditing();
        }

        @Override
        public Object getCellEditorValue() {
            return radioButton.isSelected();
        }

    }

    private JFrame f;
    private JTable table;

    private class MyObjectManager {
        private PropertyChangeSupport propertyChangeSupport = new PropertyChangeSupport(this);
        private List<MyObject> objects = new ArrayList<TestTable.MyObject>();

        public void addObject(MyObject object) {
            objects.add(object);
            object.setManager(this);
            propertyChangeSupport.firePropertyChange("objects", null, object);
        }

        public List<MyObject> getObjects() {
            return objects;
        }

        public void setAsSelected(MyObject myObject) {
            for (MyObject o : objects) {
                o.setSelected(myObject == o);
            }
        }
    }

    private class MyObject {
        private PropertyChangeSupport propertyChangeSupport = new PropertyChangeSupport(this);

        private MyObjectManager manager;

        private String value;

        private boolean selected;

        public MyObject(String value) {
            this.value = value;
        }

        public PropertyChangeSupport getPropertyChangeSupport() {
            return propertyChangeSupport;
        }

        public String getValue() {
            return value;
        }

        public void setValue(String value) {
            this.value = value;
            propertyChangeSupport.firePropertyChange("value", null, value);
        }

        public MyObjectManager getManager() {
            return manager;
        }

        public void setManager(MyObjectManager manager) {
            this.manager = manager;
            propertyChangeSupport.firePropertyChange("manager", null, manager);
        }

        public boolean isSelected() {
            return selected;
        }

        public void setSelected(boolean selected) {
            if (this.selected != selected) {
                this.selected = selected;
                if (selected) {
                    manager.setAsSelected(this);
                }
                propertyChangeSupport.firePropertyChange("selected", !selected, selected);
            }
        }

    }

    protected void initUI() {
        MyObjectManager manager = new MyObjectManager();
        for (int i = 0; i < 200; i++) {
            MyObject object = new MyObject("Row " + (i + 1));
            manager.addObject(object);
        }
        table = new JTable(new MyTableModel(manager));
        table.setRowHeight(20);
        TableColumn column = table.getColumnModel().getColumn(1);
        column.setCellEditor(new RadioButtonCellEditorRenderer());
        column.setCellRenderer(new RadioButtonCellEditorRenderer());
        f = new JFrame();
        f.setDefaultCloseOperation(JFrame.EXIT_ON_CLOSE);
        f.add(new JScrollPane(table), BorderLayout.CENTER);
        f.pack();
        f.setVisible(true);

    }

    public class MyTableModel extends AbstractTableModel implements PropertyChangeListener {

        private final MyObjectManager manager;

        public MyTableModel(MyObjectManager manager) {
            super();
            this.manager = manager;
            manager.propertyChangeSupport.addPropertyChangeListener(this);
            for (MyObject object : manager.getObjects()) {
                object.getPropertyChangeSupport().addPropertyChangeListener(this);
            }
        }

        @Override
        public void propertyChange(PropertyChangeEvent evt) {
            if (evt.getSource() == manager) {
                // OK, not the cleanest thing, just to get the gist of it.
                if (evt.getPropertyName().equals("objects")) {
                    ((MyObject) evt.getNewValue()).getPropertyChangeSupport().addPropertyChangeListener(this);
                }
                fireTableDataChanged();
            } else if (evt.getSource() instanceof MyObject) {
                int index = manager.getObjects().indexOf(evt.getSource());
                fireTableRowsUpdated(index, index);
            }
        }

        @Override
        public int getColumnCount() {
            return 2;
        }

        @Override
        public int getRowCount() {
            return manager.getObjects().size();
        }

        public MyObject getValueAt(int row) {
            return manager.getObjects().get(row);
        }

        @Override
        public Object getValueAt(int rowIndex, int columnIndex) {
            switch (columnIndex) {
            case 0:
                return getValueAt(rowIndex).getValue();
            case 1:
                return getValueAt(rowIndex).isSelected();
            }
            return null;
        }

        @Override
        public void setValueAt(Object value, int rowIndex, int columnIndex) {
            if (columnIndex == 1) {
                getValueAt(rowIndex).setSelected(Boolean.TRUE.equals(value));
            }
        }

        @Override
        public boolean isCellEditable(int rowIndex, int columnIndex) {
            return columnIndex == 1;
        }

        @Override
        public Class<?> getColumnClass(int column) {
            switch (column) {
            case 0:
                return String.class;
            case 1:
                return Boolean.class;
            }
            return Object.class;
        }

        @Override
        public String getColumnName(int column) {
            switch (column) {
            case 0:
                return "Value";
            case 1:
                return "Selected";
            }
            return null;
        }

    }

    public static void main(String[] args) throws ClassNotFoundException, InstantiationException, IllegalAccessException,
            UnsupportedLookAndFeelException {
        UIManager.setLookAndFeel(UIManager.getSystemLookAndFeelClassName());
        SwingUtilities.invokeLater(new Runnable() {

            @Override
            public void run() {
                new TestTable().initUI();
            }
        });
    }

}

  1. It is not recommended to return a new component in the getTableCellRendererComponent method. Instead, always return the same component, but modify it according to the value. This is possible since the returned component is merely used as a 'stamp' and not added directly to the Swing hierarchy. See the Renderers and Editors section in the tutorial
  2. What I described in the first point explains why you cannot click on the button. It is merely an image of the button that is present in the table, not a real button

Also, consider using a JCheckbox instead of a radiobutton. In that case you can simply stick to the default renderer / editor when your TableModel contains boolean values