The Bytes and Hypermail are in an alternate universe. Even Jon said so himself. In this universe, the toys are aware that they are part of a show, and none of the events in the story season happen, because they know it's a show and they are simply actors in the show.
I hope that there will be a Season 8 as well, but let's face it, it's highly doubtful. Jon has stated that this is the last season himself. But he also mentioned the possibility of a "2001: A Space Odyssey" parody involving the toys, and maybe A Sonic The Hedgehog one as well. He stated on his blog himself "I can't leave screenwriting. It's too much fun."
Even if Jon went on to be a rich and successful movie director, I imagine he'd probably pay homage to Arby 'n' the Chief somehow, or maybe include a reference to it in one of his movies. Or maybe even make a few shorts with them from time to time, when he has spare time.
Even if this is the last season of Arby 'n' the Chief, they'll never be gone. Not really.