There are some early rumors that Michael Bay will include The Fallen. Who or what he is I have no idea.

"[We're going to] explore the background of The Fallen — the main villain of the movie — as well as expand on the 'Reign of Starscream' story that we're doing and tie everything in to what this next movie is going to be," explained writer Chris Mowry to MTV, who partners on the book with artist Alex Milne. "The next movie starts out with just tons of action and there's obviously going to be a lot of questions, so we're hoping to answer some of those beforehand."

Those that remember the finale to Transformers remember a speech given by Optimus Prime calling for the Autobots to head to Earth in an effort to live among the humans and protect them while Starscream flew into space following the death of Megatron. Apparently Starscream's character will be a bit different than what fans of the first generation of "Transformers" are used to, Mowry told MTV, "He's more of like a military guy. So in ‘Destiny' we're going to see a lot more involvement with [the backgrounds of] Prime and Megatron, [as well as] Cybertron's history and how that affects the present day. It all centers around the plot of the sequel which I obviously can't get into. It'll be explained but you'll see a lot more expansion of their characters and their motivations and their destinies, if you will."

Some more details of the story here