A semi-dry suit is a wetsuit that has extra seals at the ankles, wrists and neck to minimize water transfer in and out of the suit. Most if not all have an inner neck seal and integrated hood. Neoprene is permeable and water passes right through it, whether its a wet suit or semi-dry suit.
I find mine to be suitable for diving in the late spring, summer, and early fall in the North East, Atlantic Ocean off of NY/NJ; where temperatures range between low 40's and low 60s. According to my log, anything less than high 40s tends to be rather chilly at depths of around 100 feet when wetsuit compression and thermoclines tend to make the dive too cold to enjoy.
You can pee in a semi-dry suit just like you can in a wetsuit, although I suggest an extra good rinse following the dive.