I'm having a little trouble understanding the wording of this theorem, and what it's implications are.
Theorem: If $A$ is an $n \times n$ symmetric matrix then for it to be positive definite it is:
Sufficient: all leading principal minors be positive
Necessary: all principal minors be positive
My understanding of sufficient vs necessary was that: (S) is a stronger condition than (N) in that it's possible (N) can be satisfied but A isn't Positive definite, whereas as long as (S) is satisfied, A is always positive definite.
But in this case, doesn't (N) imply (S)? If all principal minors are positive, then all the leading principal minors are positive, and hence A is PD.
I'm confused by the meaning of necessary and sufficient here.
You are generally right:
The reverse implications do not necessarily hold, but may hold: in that case we have a “necessary and sufficient condition” for (P), i.e. a condition which is equivalent to (P).
That is what happens in your case: From the circular implications $$ \begin{align} &\text{All leading principal minors are positive} \\ \implies &\text{$A$ is positive definite} \\ \implies &\text{All principal minors are positive} \\ \implies &\text{All leading principal minors are positive} \end{align} $$ it follows that both your conditions are equivalent to $A$ being positive definite, i.e. both are necessary and sufficient.