So, uh, I'm an addicted World of Warcraft player. As such, I follow the news sites (yes, there are news sites for it), one of which happens to include weekly round-ups of Other Games.
Which is where I found this:
To sum up, apparently a Chinese company called NetDragon is working on an MMO-adaption of Transformers. And it will be multinational.
Unfortunately, the list of other games that NetDragon has published aren't too spectacular, but hey. It's kinda wishful thinking that the makers of World of Warcraft, EVE, or Final Fantasy would pick it up.
It doesn't specify what universe (if any) the MMO will focus on, or even where it will take place. Given how Hasbro, and everyone else, is prone to re-inventing the Transformers universe, I wouldn't care to take a bet on any of the details, either.