VGS-VT expresses the voltage difference between gate voltage and threshold voltage.
When VGS-VT is greater than 0V, the gate is driven to more than the required gate voltage to turn on, it is overdriven.
See Wikipedia.
Pinch off voltage is the drain voltage where saturation starts, that is where VDS=VGS-VT,
see Wikipedia.
The difference is that VOV is measured between gate and source, VDS between drain and source.