Indeed, the suit does not make you transparent, only invisible.
Yes, there is a difference

Transparent means light passes clean through it, meaning we cannot see it directly as a result (and it does not cast a shadow). Invisible means we just can't see it (but light can still hit it, causing a shadow). For example a black letter on this background is invisible, but not transparent.
Shh, you might confuse them with logic. =x