If Cheetara (spelling?) will be played by Jessica Alba (blond dye job), Milla Jovovich (blond wig), Rebecca Romjin, or Angelina Jolie (blond dye job)... then maybe.

I really couldn't care less who plays the rest of the characters...
All kidding aside, I don't see this coming to theatres everywhere, and more of a direct to dvd deal. Or if they really change the story about and make it so the cats land on modern day Earth, with Mum-Rah and the other baddies following them, and follow the premise that Transformers did, of looking for some artifact.
If they use the SFX like that of Underworld and have all the camera work in dark grey, black, and blue tones and such... then the cats wouldn't look so cheezy.