This is probably one that is more appropriate to the Hurricane Ask/Tell Forum, but I'll start with a few definitions from the NHC Glossary:

Invest:
A weather system for which a tropical cyclone forecast center (NHC, CPHC, or JTWC) is interested in collecting specialized data sets (e.g., microwave imagery) and/or running model guidance. Once a system has been designated as an invest, data collection and processing is initiated on a number of government and academic web sites, including the Naval Research Laboratory (NRL) and the University of Wisconsin Cooperative Institute for Meteorological Satellite Studies (UW-CIMSS). The designation of a system as an invest does not correspond to any particular likelihood of development of the system into a tropical cyclone; operational products such as the Tropical Weather Outlook or the JTWC/TCFA should be consulted for this purpose.

Tropical Disturbance:
A discrete tropical weather system of apparently organized convection -- generally 100 to 300 nmi in diameter -- originating in the tropics or subtropics, having a nonfrontal migratory character, and maintaining its identity for 24 hours or more. It may or may not be associated with a detectable perturbation of the wind field.

Tropical Cyclone:
A warm-core non-frontal synoptic-scale cyclone, originating over tropical or subtropical waters, with organized deep convection and a closed surface wind circulation about a well-defined center. Once formed, a tropical cyclone is maintained by the extraction of heat energy from the ocean at high temperature and heat export at the low temperatures of the upper troposphere. In this they differ from extratropical cyclones, which derive their energy from horizontal temperature contrasts in the atmosphere (baroclinic effects).

Tropical Depression:
A tropical cyclone in which the maximum sustained surface wind speed (using the U.S. 1-minute average) is 33 kt (38 mph or 62 km/hr) or less.

The recon flights earlier today were unable to confirm a 'closed circulation' at the surface, i.e., in the northern hemisphere this means the detection of a westerly surface wind on the south side of a westward moving tropical disturbance. The organized deep convection was located to the northeast of the low center this afternoon, rather than around the center. Tonight the convection is around the center (or at least close to it), but the westerly component to the surface wind is still not there - so no TD yet.
ED