We demonstrate control over the localization of high-lying Rydberg wave packets in argon atoms with phase-locked orthogonally polarized two-color laser fields. With a reaction microscope, we measure ionization signals of high-lying Rydberg states induced by a weak dc field and blackbody radiation as a function of the relative phase between the two-color fields. We find that the dc-field-ionization yield of high-lying Rydberg argon atoms oscillates with the relative two-color phase with a period of 2 pi while the photoionization signal by blackbody radiation shows a period of pi. Accompanying simulations show that these observations are a clear signature of the asymmetric localization of electrons recaptured into very elongated (low angular ...