This topic http://www.imdb.com/title/tt0104850/board/thread/178466757 made me realize that Chevy isn't really invisible (someone or thing that can bend light like Predator). He's transparent as in - light goes through him. Am I crazy or what?
Something that's transparent allows you to see through it but that doesn't mean that you can't see the transparent thing itself. It could be tinted, distorted, have reflections on contours, surface specks, etc. Invisible means undetectable, which could mean too small to see, as well as undetectably transparent.
Sometimes Nick was just transparent, as when he was wet and reflective.
I postulate that his refractive index was one, otherwise he would have been capable of focusing the suns rays causing fires, and also would have appeared to have distorted objects seen through him. As well as also reflecting light as well in the case of a refractive index greater than one.