So this isn't exactly much of a rumor yet but since it's been out there since yesterday I somehow thought there'd be news about it on this site. Unless I missed it here's all I got about it so far:
http://thiswouldbemoreawesomewithlasers.wordpress.com/2010/08/05/transformers-the-mmo/
Edit: Developers site: http://translate.google.com/translate?hl=en&sl=zh-CN&u=http://www.nd.com.cn/content/2010-07-31/20100731003714015.shtml&ei=rBJYTMeNNoP_8AaTtryrCw&sa=X&oi=translate&ct=result&resnum=4&ved=0CCAQ7gEwAw&prev=/search%3Fq%3Dhttp://www.nd.com.cn/content/2010-07-31/20100731003714015.shtml%26hl%3Den%26client%3Dfirefox-a%26hs%3DrlH%26rls%3Dorg.mozilla:en-USfficial
http://thiswouldbemoreawesomewithlasers.wordpress.com/2010/08/05/transformers-the-mmo/
Edit: Developers site: http://translate.google.com/translate?hl=en&sl=zh-CN&u=http://www.nd.com.cn/content/2010-07-31/20100731003714015.shtml&ei=rBJYTMeNNoP_8AaTtryrCw&sa=X&oi=translate&ct=result&resnum=4&ved=0CCAQ7gEwAw&prev=/search%3Fq%3Dhttp://www.nd.com.cn/content/2010-07-31/20100731003714015.shtml%26hl%3Den%26client%3Dfirefox-a%26hs%3DrlH%26rls%3Dorg.mozilla:en-USfficial