The Goodison Park club slammed a "derisory" and "insulting" offer from the Premier League champions for two of their players - widely believed to be Fellaini and Baines - in a statement on Monday.
And Martinez has revealed his frustration at the bid, indicating that it was never entertained as a serious proposition by the Everton hierarchy.
"It's been well documented what happened with the transfer speculation, that's been dealt with and it was all a little bit of a waste of time, time I don't want the players to waste," the Spaniard told the club's official website.
"I think the situation is very clear. I think as a football club we will always keep our fans informed. I'm not a big believer in having the window open while the games are starting.
"When there is something to tell our fans we will do that, they'll be the first ones to know if there are any players coming in or any players going out.
"The players have had the demands of international football and then they started the league with a lot of travelling, so obviously you can imagine it's been important these past few days that we can get them recovered, regenerate them in the right manner and get them ready for the next game."
Martinez - who took over from David Moyes in the close-season - saw his team, including Fellaini and Baines, earn a 2-2 draw at Norwich in their Premier League opener on Saturday.