A UK fansite has obtained some prototype images of Gen1 Megatron, in some funky colours, as Hasbro's attempt to get it released during the reissue period of the last decade.
Half bright orange, half shiny blue, with black accessories, apparently it was still unable to get approval for still being too realistic (not sure why, as Hasbro is the king of toy guns with their Nerf line).

It was probably for the best though, as no one would have bought a "reissue" Megatron looking like that. It would have needed to be written up as something story-related, and even still, would be too much of an eyesore on a collection shelf. Takara produced a good reissue, more than once, so it wasn't like the more desperate collectors couldn't get an accurate Megatron anyway. Hasbro didn't need to reissue Megatron, but it would have been nice from their perspective to have it as part of their classic line-up.


The UK fansite has also release a number of other prototype images through their facebook page, but nothing as significant as this though.