The new game uses the Unreal Engine 3 that War for Cybertron used but this time with a single campaign mode instead of separate Autobot and Decepticon campaigns. The game will have online multiplayer but Activision has not yet released specific details. They have also introduced a "Stealth Mode" (as seen via Bumblebee in the trailer) that is less on stealth and heavy on firepower. Additionally the official website for the game has been re-launched but for now it just shows a countdown clock. The video game is scheduled for release on June 14th on all platforms. Thanks to Kremo and Salvatore for the link.
Update: Swapped out trailer for YouTube embed from official YouTube site for the game. Thanks to Daniel for the link.