The fourth wave 4 toy? http://www.tformers.com/article.php?sid=5437 Could also be an indication of a large Optimus repaint coming (as hinted by the Wal*Mart listing)...
That looks far too similar to the original Prime toy-- I really doubt this is the missing LoC Wave 4 toy.
No, the Megalo exclusive was a deeper red, and the legs were a lighter blue. This seems to be a lighter red and a really dark blue which is almost black. Hmmm, red and black? Now, that'd be nice on a Prime. But not enough to warrent buying the big one again.
Looks like it's half Optimus, half Nemesis Prime. I'd accept it as a LoC, but for the big normal figure it just doesn't seem different enough. A robot mode pic of this LoC would be nice.
Black and red, eh? Not bad, if they put some effort into it. I personally would make it mostly black with red trim. Maybe a bit of grey or blue to ease the monotony.
I don't really see THAT much of a difference in the colours, except that its a little more shiny. I'll wait until I see more of the toy (smaller or bigger) before I pass judgement.