According to the source here, it has been clarified that it is believed that only Wave 4.5 would see cancellation, as this wave only includes a change with the inclusion of Animated Elite Guard Bumblebee.
This morning Kapow received additional information that Wave 4.5 was being cancelled, nothing was mentioned regarding further wave or the line in general. Now before anyone panics, it is our belief that this news will turn out to be that just Wave 4.5 has been cancelled. If you look back at the breakdown report that we posted, you will see that Wave 4.5 only included one new toy, the recoloured Bumblebee as Elite Guard Bumblebee. The other two main toys from that Wave (Swoop and Sentinal Prime) are also due for release as part of Wave 4. Therefore things will not be as bad as many fans fear. Future UK waves have not been announced, but it is quiet likely that Hasbro do not want to change the stock that is on the shelves again too close to Christmas.
Both wave 4 and Wave 4.5 were scheduled for release within the UK this month (October 2008), the same month that the UK exclusive Transformers Animated comic is released. It should also be noted that a Terrestrial channel is supposedly going to start airing Transformers Animated from next year.
Again, the latest on this news story is that wave 4.5 has been cancelled. Further updates will be made as more information becomes available.
You can read the entire post here, at Transformersanimated.com
.