It should come as no surprise that High Moon Studios had been given the greenlight from Activision to make a sequel to Transformers: War for Cybertron. Titled Transformers: The Fall of Cybertron, the game is currently in development for Xbox 360 and PS3. It will take "fans through the final, darkest hours of the civil war between the AUTOBOTS and DECEPTICONS as they fight for control of their dying planet, ultimately leading to their storied exodus from home."
Details beyond that are sparse at this time, because Game Informer has the exclusive cover story. If you look at the sweet cover art below, it looks like there will be Dinobots. I am not sure how that works, because I never imagined Cybertron would have been home to Dinosaurs. Do I really care? No. Screw logic, I get to play as a T-Rex! Expect to see Transformers: The Fall of Cybertron on store shelves in Fall of 2012.