I'm not totally sure myself but i would guess telepathy is transferring your thoughts and mind reading is hearing other peoples thoughts. I could be wrong though.
I think he refers to telepathy as being able to both send and receive thoughts to another person, while mind reading is just a one-way connection where you can read someone's thoughts.
Well yeah, that's kind of what I was assuming. I guess I just wanted to know ahead of time since people can define these things differently. I guess I'll find out whenever I get around to trying it.