Ultra Magnus, Tactician // Ultra Magnus, Armored Carrier

"Living metal" means "As long as it's your turn, this permanent is an artifact creature in addition to its other types."

"More Than Meets the Eye [cost]" means "You may cast this card converted by paying [cost] rather than its mana cost." It functions in any zone from which the spell can be cast.

Converting a permanent doesn't affect any Auras or Equipment that are attached to it. Similarly, any counters on the permanent will remain on that permanent after it converts. Any continuous effects from a resolved spell or ability will continue to affect it. Any spells or abilities on the stack that target a permanent continue to do so after that permanent converts.