Breaking the thing into pieces is surely the way to go. My following code works with the included test names, but there may be some names that break it. The fields will contain trailing spaces, which can be removed afterwards.

#!usr/bin/perl -w
@Data
= ( 'Dr. Foo B. Baz',
    'Ms Bar',
    'Foo Bar',
    'Col Foo Bar',
    'Foo E.G. Bar',
    'Baz',
  )
;
my $Title
= qr/ (?:  LTC
        |  COL
        |  DR
        |  MS
        |  MR
        |  MISS
      )           
  /ix
;
for (@Data) {
  / ( (?: $Title \.?      \s+ )? )
    ( (?: [\w-]+          \s+ )? )
    ( (?: (?: \w\.\s*? )+ \s+ )? )
    (     [\w-]+?         \s* $  )
  /ix;
  my $i++;
  ( $Fields{'title'   }[$i],
    $Fields{'name'    }[$i],
    $Fields{'initials'}[$i],
    $Fields{'surname' }[$i],
  ) = ( $1, $2, $3, $4 );
  print "$1:$2:$3:$4\n";
}

__DATA__
Dr. :Foo :B. :Baz
Ms :::Bar
:Foo ::Bar
Col :Foo ::Bar
:Foo :E.G. :Bar
:::Baz
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^~Django
"Why don't we ever challenge the spherical earth theory?"