I expect that's close, if only because we've seen the actual prop a few times before. The others, being almost entirely CGI, will more easily be revised from what we've seen.
Once getting over the "he's not a VW bug" thing, it's actually a good design. He's striped like a bee, and actually seems bee-ish. (I almost wonder if the original Bumblebee should've been called Scarab or something...I mean, he was a "beetle" with horns, and his repaint buddy Cliffjumper had Pharaoh-like headgear if I remember correctly...)
Nice to see the whole thing, but I guess by now the whole criticism-of-robot-designs ship has sailed, come back, and sailed off again. Now where's the trailer?