Soundwave is a G1 transformer that is like Megatron except he is not a dinobot in the Transformers Universe. You can read up about it on the Transformers Universe Wiki or the forums.
Don't be worried that Stellardawn has been renamed to Transformers Universe because both games will feature in Jagex's new contraption which is TFU. Transformers Universe upgrades will change your transformer bot into a more powerful PvE fighting machine. You can equip and wield weapons and armour to enhance the fighting capabilities of your autobot.