For those going to BotCon this year (I know, no one else here... but this is news), attendees will get the opportunity to sign up first to reserve names and allegiances before anyone else in the world when the game goes live at the end of this year.
So if you were hoping to register/use an official character name (without numbers or creative spelling) on the MMOG, the bad news is that, chances are, they won't be available after BotCon.

Members of the TRANSFORMERS UNIVERSE development team will be attending the official fan convention at the Hyatt Regency hotel in Dallas, Texas, to unveil further details of the game and offer attendees the exclusive chance to reserve their TRANSFORMERS character name for the upcoming game, due for release in late 2012.

This is the first time fans will be given the chance to reserve their names and will ensure that those attending the event will be able to choose their side, pledge their allegiance, and reserve their TRANSFORMERS character name ahead of everyone else.

It would be good if you can customise your character to look like the classic name you secure... but if you can't, "owning" a classic character name without a matching avatar wouldn't be much point.
I guess we'll find out at BotCon just how customisable you can have the avatars looking.