Some of you know this, but for those who don't:
A suspension means your license and all your endorsements & certifications are temporarily suspended. After the suspension period you get them all back.
A revocation is more serious. It means means your license and all your endorsements and other privileges are gone: private, commercial, instrument, ATP, etc. If you want to be a pilot again, you'll have to go through the training and earn them all over again. And that is possible only if the FAA allows you to reapply - which they may or may not do.