emerging freeradius (any version currently in portage) will not give you working init scripts as the current init scripts rely on /var/run/radiusd existing and being writable. In the current ebuild the line: dodir /var/run/radiusd should be replaced with keepdir /var/run/radiusd i'd do it myself but thought it would be considered rude ;)
fixed by creating the missing directory in checkconfig() (I'm not confortable with .keep in /var/run subdirectories). thanks for pointing this out! :-[