TFWiki.net has the bio, tech specs, and fiction that accompanied the Alternity Convoy figures fully translated into English! It gives us a good overview as to what the Alternity storyline and characters are like in this new series.

The story of Transformers Alternity is set in the Earth year of 2009, some years following the Binaltech storyline. However, those who remember what happened in the Binaltech story is that this timeline split apart from the main G1 timeline, thus resulting in an altered future from what we know to be the G1 cartoon. The exact identity of this world is the universal stream Primax 109.0 Beta.

Anyways, the story goes on to tell of a great battle that coming. A battle so huge that it stakes much higher than anything ever experienced in all Transformers fiction. Period! Even more intense than what happened in the finale of the second season of Beast Wars (The Agenda, Part III)!

The characters in this saga are very much similar to the Transcendent Tecnomorphs (TransTechs) from the Fun Publications TransTech stories. However, instead of existing in one world where there weren't any wars, these celestial beings (simply called "the Alternity") are a highly-evolved form of Cybertronian life, and are capable of bridging the gap between universal streams through the use of what is known as the Timaeus Drive. Also, similar to the Vok, the Alternity are only able to interact with the physical world by taking on physical vessels, called Auto-avatars, which are similar to the bodies of the regular, lesser-being Transformers that inhabit each universal stream, but have technological advancements related specifically to the Alternity.

Among all the characters, there are three that are known by name. One is Convoy (Optimus Prime) who is here known fully as Masterlord Convoy. He exists as two selves in two Auto-avatars: the silver version known as "Vector 01", and the red version known as "Vector 109".

Another character known is Megatron, who is to have two toys of his own in this line, but his role here is that he is prophesied to lead something to Earth that will cause great destruction and tragedy.

The third character is that "something". This new character is, by far, the most powerful and most evil being to ever have been created in all Transformers fiction. Moreso even that Unicron. In fact, this guy makes Unicron seem like a tiny, insignifcant worm. He is nickname the "Beast of Time". His name is Hytherion! He is a hyper-dimensional creature of the greatest terror and destruction. Capable of traveling freely between the universal streams, he is normally invisible and intangible to the lesser beings of the physical world, and is only opposed by the beings of the Alternity. Once Convoy/Optimus became one of the Alternity, we are given only a brief description of his size: his fangs cover up the entire heavens of outer space!