There are things I like, and things I don't. Overall I think it's a potentially strong idea.
-For one thing, we know Brandon Hardesty (look him up on youtube if you don't know who he is) got and audition for a part. My best guess is that it's going to be as Sam's dorm mate, which IMHO could work out very well. He could play Sam's nerdy, but funny, roommate in whom Sam sees how he used to be before the autobots. Just an idea. It could even work out that he gets Sam involved in a street race, and that would tie into the outline we just read.
-From the way that reads, it sounds like the Constructicons just transform and then immediately turn into Devestator. I really think we'd have to see the Constructicons fight as themselves before they combine, that way we see how truly imposing Devestator would be compared to the average transformer.
-I really like the idea of the Autobots and the army working together. I think it could be a really awesome scene to see Autobots arriving to help the defense of the power source.
-I myself am not a big Hot Rod fan, but I do like the way they introduce him in that treatment.
-Ultra Magnus...'nuff said.
-This wasn't touched on in the script, but I could see it working out really well: Skyfire. We should really have Skyfire be the airborne Autobot, and in the scene where the Decepticons are attacking en masse, have Skyfire go head to head with a whole bunch of them. Just what I thought would make a badass addition to that scene.
-The idea of Optimus being critically injured. I don't want to see him die because he's simply so iconic of the Autobots. If you're going to kill him off, you'd have to do it at the end of 3, but I do like the idea of him being in really bad shape by the end of this one.
-The Nemesis turning into the Carrier.
-Sector Seven not QUITE being gone.