After second reading I liked the issue even more. There are many little things that are done right in this issue.
Shockwave's inner monologue is well done, not just the words but how those are written. No speech bubbles/squares when it's clear that it's character thinking (a little thing that shouldn't be seen in professionally published comics, but sadly not uncommon).
Character's motivations for their actions are believable. Grimlock's & co. reckless vendetta would be otherwise really stupid, if not for the fact that Grimlock actually had a back up emergency plan. AND it also seemed that Grimlock did that without telling the other members of the group, which left me thinking his motivation for that. Would others have considered it a show of weakness and/or fear, was it that Grimlock didn't want to confess others that he was actually worried they couldn't handle Shockwave? A little nuances liket his added a lot to the issue.
Of course there little things that could have IMHO been better excecuted. For example.
-Bludgeon standing with an unsheathed energon blade in front of Megatron. Would Megatron have allowed that, was Bludgeon really a warrior at that point. His characterization points more to scientist (read up to Stormbringer #3, so I don't know if there's been more in #4). I suppose it's mostly to make recognizing the character easier, but would have prefered sword being sheathed.
-Shockwave's hand rising from the lava should have been his gun hand.