Like all the guards, their main function in the movie is set dressing. Yoda takes out a few red guards and that's all the action they see. It would have been cool to have a small squad of these blue guys holding out against Anakin and his clones as he goes to the Jedi Temple to kill some younglings. This particular guy, I think his technical name is Blue Senate Guard or perhaps Senate Guard (Blue), is I think a little different from the first ones we see at the end of Episode I, if I recall those ones had open face guards. This guy has the classic black visor. So maybe Episode II, though I don't recall when. Oh well. Main point is, it's a fine looking figure, as are all the guards, blue, red or shadow.
