I didn't think it would be possible, but this movie is actually worse than Transformers 2! This is not a parody of the Transformers movies or other action movies as the title may lead you to believe. It's actually (as far as I can tell) a serious attempt at creating an action/adventure in which humans come under attack by transforming robotic creatures and must fight back!
Basically they took many of the essential elements that make up the Transformers franchise and repackaged them into their own movie. This has the benefit of removing Michael Bay from the equation, but is done at the expense of hiring convincing actors and high budget special effects. Unfortunately, the script is just as poorly written as that for Transformers 2!
Now there are some out there who actually enjoy low-budget B-movies with cheesy special effects and poor acting. Sadly, the special effects were actually done on a high enough level where despite being slightly cheesy they're actually not that disappointing. Also, despite some of the acting being poor it's not bad enough to be entertaining for that reason and although the story is full of holes they're just not presented in a way where it might be easy for you to amuse yourself with them.
Overall a bad movie, but even if you're in the mood for a "bad" movie I suspect you'll still be disappointed by Transmorphers Fall of Man!