Yeah as oosyrag said
Else is more open. It means do any of this if the comparison is not true.
If sprite is overlapping background- do foo
Else- do some other foo
Inverted means the opposite of the comparison.
inverted sprite is overlapping background- do foo = sprite is not overlapping background- do foo
They are about the same, but else gives you the option to do something if a comparison is true as well, but you have to keep in mind inverted may not always work as expected.
Additionally else will not do any picking, so you would have to add extra conditions for that.